| In 2013, more than 6,600 UK residents reported online vehicle fraud to the police, with an average loss of £4,078 per victim. The loss range is huge; from smaller losses of less than £50, which mainly related to holding deposits, to one unlucky victim who lost £300,000 where multiple vehicles were involved.
Fraudsters used the following methods to steal their victims’ cash: - Part or full payment for the vehicles and then loss of contact with the “seller” accounted for nearly half (49%) of frauds
- More than a third (37%) of cases involved the payment of a deposit rather than the full amount
- Bank transfers (58%), fake eBay Invoices (14%) and fake Google Payment Systems Invoices (12%) offering non-existent "buyer protection" for the transaction were the most commonly cited payment methods
- Some victims paid funds to holding accounts on the basis that funds will be held until the buyer has received the goods and is satisfied with them
- Other victims received texts from well-known websites requesting refundable fees for car inspections
Further statistics show that: - Nearly three quarters (71%) of victims were men
- People in their forties reported a quarter (25%) of all online vehicle fraud
- London was the most targeted city for online vehicle fraud, followed by Bristol and then Birmingham
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