The IT Law Wiki

Escrow fraud

31,969pages on
this wiki

Overview Edit

In escrow fraud, the fraudster will propose the use of a third-party escrow service to facilitate the exchange of money and merchandise in an Internet auction. The victim is unaware that the fraudster has actually compromised a true escrow site and has created one that closely resembles a legitimate escrow service.

The victim sends payment to the phony escrow and receives nothing in return. Or, the victim sends merchandise to the subject and waits for his/her payment through the escrow site which is never received because it is not a legitimate service.

Around Wikia's network

Random Wiki