Practice Safe Secondhand

Please don't let your judgement be clouded by what looks like an unbelievable bargain. It's your hard earned money at stake so please do be cautious when buying or selling anything from a stranger.

In particular, be aware of a scam that has been widely reported on the Internet. A buyer offers to purchase an item for a sum above the asking price. They then ask the seller to refund the difference to the shipping agent or some other third party. Of course the original payment is fraudulent and either does not clear or is withdrawn by the bank shortly after clearance.

Never:

• Never accept overpayment where the buyer has asked for you to refund the difference to a third party.
• Never pay using postal orders or make transfers with services such as Western Union or MoneyGram. These payment methods are completely untraceable, unrecoverable and are a favourite with scammers.

Always:

• If you are being paid cash, study the notes for signs of counterfeit by feeling the paper, studying the printing, checking the watermark and the metallic thread. More information on checking for counterfeit money is at the Bank of England web site
• If you are not being paid in cash, wait for payment to clear before handing over goods. Remember, in some situations (particularly overseas payments) a payment could still be withdrawn by the bank after it has cleared. Talk to your bank for more information on this.

Consider:

• When buying, where possible pay by credit card (not debit card) as in most cases the card company will provide some protection.
• If paying by cheque or bank transfer, remember you risk losing that money if the item never arrives or is not as described.
• For high value transactions, either complete the sale in person or use an Escrow service.
• It usually pays to have an HPI check when purchasing a second hand vehicle. This check will help you determine whether a car has been clocked, stolen or is a repaired insurance write off.

Be extra cautious:

• If a seller has only given a mobile telephone number or email address, and wants to meet at a location that is not their home. They may be trying to hide their identity.
• If a buyer offers to purchase a valuable item sight unseen, or has no interest in the items condition or features, they may be more interested in your money.
• If an item looks particularly cheap.
• If the item is in high demand and is scarce in the shops (these items are favoured by scammers).

Remember the advice given by the Metropolitan Police:

"If it sounds too good to be true, it probably is too good to be true"

Find out more:

Learn more about avoiding common scams both online and offline at the following web sites:

• Office of Fair Trading - Scambuster
• Metropolitan Police - Fraud Alert