A web user contacted us to check if an invoice from a self-proclaimed Uniscrow agent was a legitimate operation required by our escrow process.
Luckily, he decided to contact us before sending any money; this simple check saved him 10,000 USD. The transaction was about the sale of a secondhand car.
This is the classical implementation of the Internet escrow scam, which is a subtle strategy based on the impersonation of some legitimate escrow business to convince a buyer to deposit money to a rogue bank account.
How is the Internet escrow scam orchestrated?
The Internet escrow scam is a type of fraud that involves the use of fake escrow services to trick people into paying for goods or services that they will never receive. In this scam, a seller or buyer may suggest the use of an online escrow service to protect the transaction. However, the escrow service is a fake website that is controlled by the scammer, rather than a neutral third party.
Once the victim sends the payment to the fake escrow service, the scammer disappears with the money, leaving the victim with no way to recover their funds. The victim may also never receive the goods or services they were promised.
To avoid falling victim to an Internet escrow scam, it is important to verify the legitimacy of any online escrow service before using it. Look for reviews, check the company’s website and contact information, and never send money to an escrow service that you do not trust.
In case you are unsure contact the escrow company and check if it is a legitimate request. If the request is suspect do not proceed any further.
How many people is scammed through the Internet escrow scam every year?
It is difficult to determine the exact number of people who are scammed through Internet escrow scams every year, as many victims may not report the scam to authorities or may not even realize that they have been scammed. However, according to the FBI’s Internet Crime Complaint Center (IC3), there were 13,638 reported complaints related to Internet auction fraud in 2020, which includes scams involving fake escrow services.
This represents a decrease from the 16,394 reported complaints in 2019. It is important to note that these figures only represent reported cases and do not account for unreported cases or those that may have gone undetected.
How to recognize that the request I’m receiving is from a scammer?
There are several warning signs that can indicate if an email is from a scammer. Here are some common ones to look out for:
- The email contains urgent language or a sense of pressure to act quickly. Scammers often use fear or urgency to trick people into making hasty decisions without thinking them through.
- The email contains spelling or grammar errors. Legitimate companies usually take the time to proofread their emails, while scammers often use automated tools that may contain errors.
- The email requests personal or sensitive information. Be wary of emails that ask you to provide personal or sensitive information, such as your social security number, passwords, or financial information.
- The email asks you to click on a suspicious link. Scammers often use links to malicious websites or attachments that contain malware, so be careful when clicking on links or downloading attachments from unknown sources.
- The email appears to be from a legitimate company, but the sender’s email address or website URL does not match. Scammers often create fake websites or email addresses that look similar to legitimate ones in order to trick people.
- The email offers a deal that seems too good to be true. Be cautious of emails that promise you large sums of money or other incentives in exchange for little effort on your part.
If you receive an email that contains one or more of these warning signs, it is best to delete the email and not engage with the sender. If you are unsure about the legitimacy of an email, you can contact the company or organization directly to verify the information.
In the case of the scammer impersonating Uniscrow the letter was written in good English and with convincing legal prose, however, three signs were causing some concerns:
- The logo of Uniscrow was stretched and not carefully placed in the letterhead
- The links were pointing to some service NOT in the uniscrow.com domain.
The absence of a uniscrow.com domain in the links is the final no-go symptom. Keep out of it.
However, the biggest and most important sign of a scam is definitely the bank account in the name of someone who is clearly unrelated to Uniscrow.
Uniscrow invoices or letters are imprinted with the details of payments related to Uncommon Digital Srl, the legal entity doing business as Uniscrow.