The crooks, con artists and scoundrels are hard at work during the chaos
caused by COVID-19.

As dealers change their approach to selling vehicles, one thing they
must not do is let down their guard.

A counterfeit bank draft scam is presently targeting dealerships.

The drafts appear to be issued by a major Canadian bank or credit union.

By the time the drafts are discovered to be counterfeit, the vehicles
have been released to the fraudster.

Here’s how to protect yourself:

    • Consider accepting electronic payments, such as wires, or cash,
      instead of bank drafts.
    • If you receive a bank draft, confirm its authenticity by
      contacting the issuing financial institution using the official contact
      information on their website – NOT on the draft.
    • Don’t release any goods to the buyer until you see the funds in
      your account.
    • If you’ve received a bank draft that you suspect is counterfeit, please
      contact the police, your financial institution and the UCDA.

For more ways to identify and protect your business from fraud,
please visit:

https://www.antifraudcentre-centreantifraude.ca/index-eng.htm