Anyone selling a car has been warned to beware of accepting bank drafts or large amounts of cash after it was revealed the majority of police forces in Britain have recorded a rise in fraud.
At least 22 police forces across the UK have reported an increase in offences involving counterfeit cash and bankers drafts in the last year and anti-car crime experts believe car sellers are at greater risk of being duped because of the high values involved.
”Next to buying a house a car is usually the largest purchase most people make,” said Darren Gross, Commercial Director of CarPay.co.uk, a nationwide service offering a secure method of buying and selling cars.
”We are usually talking about thousands of pounds at a time and gangs often looking to launder funny money or forged cheques are known to be targeting vehicle owners.
”The problem is already widespread throughout North America and Canada and unfortunately we are usually not far behind them.”
Private individuals desperate to sell their cars for a good price in a depressed market make ideal targets for the conmen who pretend to offer over the odds for a vehicle which they then sell on at a discount for real money.
”People have to be aware that these scams are happening and insurance policies do not cover the loss because the owners voluntarily turn over the vehicle,” said Mr Gross, whose company is acknowledged by the police and other experts as a major weapon in the fight against car crime.
In the past, police advised people to look for watermarks and other visible security identifiers on cheques and bankers drafts to determine their validity but modern counterfeiting is so good that sometimes only and expert eye can tell the difference.
”Too often people don’t realise they have been conned until it is too late and by that time they have lost both their car and their money. It’s not worth the risk,” said Mr Gross.
CarPay.co.uk, which is registered with Her Majesty’s Revenue and Customs (HMRC) as an authorised money transmitter, aims to take the worry out of the deal.
Buyers will no longer have to risk carrying pockets full of cash or paying by cheque and waiting for funds to clear before they get their dream car. Equally, sellers won't have to face the possibility of accepting a fake bankers’ draft, funny money or a dud cheque before handing over the keys to their vehicle.
Out of 52 UK police forces 32 recently revealed figures for fraud crimes committed in 2007 and of those 22 confirmed there had been an increase in offences.
CarPay.co.uk has been praised by police and car crime experts as a safe way of ensuring both sides of a transaction are protected from attempted payment fraud.
When a deal is agreed the buyer calls CarPay.co.uk to release their money and the seller is notified that their funds have been irrevocably released and are being transferred to their account.
Both buyer and seller have to register and confirm the sale with CarPay.co.uk. Their unique security system ensures that only the buyer can release their payment and that only CarPay.co.uk can notify the seller that payment has been made.
As the service is totally secure the vehicle and its keys can be handed over at exactly the same time as the money is released. The funds are guaranteed to be sent to the seller’s bank account the next working day.
Costs are based on the value of the car and start from just £35 per person (£70 per transaction).
Notes to Editors:
CarPay.co.uk is Britain’s first secure payment transfer services for used car buyers and sellers. CarPay.co.uk is fully regulated and registered with Her Majesty's Custom and Revenue service as a Money Transmitter.
For further information please visit www.CarPay.co.uk or contact Peppercorn PR on 0845 217 8757.
This press release was distributed by ResponseSource Press Release Wire on behalf of Peppercorn PR in the following categories: Motoring, for more information visit https://pressreleasewire.responsesource.com/about.