TheGasMan

There is a group out of Miami posing as a Larry D. Monroe from Alabama trying to buy Corvettes off of the internet. They attempted to purchase my Corvette with a fraudulent cashiers check. Fortunately my bank quickly identified it as a fake. I was able to contact the real Larry D. Monroe yesterday and found that his identity has been stolen and that this is the sixth time he is aware of that they have tried to purchase a car using his ID. Police have been notified but nothing has come of it at this point. Just a heads up the scammers are getting awfully good at appearing legit.

Budarooski

Last time I sold a car, I called the bank that issued the cashier's check and had them verify it. In today's world, it's sad that you can't even trust that a cashier's check is valid.

Zeake

You can not trust what a bank tells you either. I am a check casher/ money service business. If a cashiers check was purchased and altered they may tell you the check is good. When it is not. They buy one cashiers check and fake another using the numbers and the bank thinks it is good.

Budarooski

I called the bank and gave them the cashier's check number and nothing else. They verified the date, name, who it was made out to, and the amount. Not sure what else I could do to verify it.

Zeake

I think you did the right thing. Lots of banks won't verify so that is a good thing they did. Scammers are getting away with an incredible amount of stuff so you have to be extra careful. I'd prefer a wire over a cashier's check.

BlnLs1/RX7

This is why I only except CASH.

Zeake

If you deposit or withdraw lots of cash make sure to deposit or withdraw more than 10k if the amount will be over that. Don’t get hemmed up by the patriot act. You want a cash transaction report filled out. That will eliminate getting charged with structuring.

Kaya1905

you did the right thing and you are safe
don’t believe the troll on top

Zjoe6

Are you missing a "not" in there somewhere? Best to "not" do more than $10k right?

VetteVinnie

When I bought my Grand Sport last year, I used a combination of cash + wire transfer. I don't trust anything on paper anymore until it actually clears the bank.

merim123

I hear ya. But- go take that cash to the bank and have them run it through the machine and see how many fakes you got. Wire is still the best way sadly.

ClipperFan

A guy tried to give me a money order for a car I was selling and I told him, My credit union puts a five day hold on cashiers checks ~ money orders. He came back with cash and I let the credit union count it…..

VetteVinnie

The only problem with cash these days is not many banks keep that kind of cash on hand anymore (at least with PNC). I had to go to four branches just to scrounge up $20K in cash for my $38.5K purchase. Between the third and fourth stop, I just had the seller provide his wire transfer information for his account. So I wired the $18.5K directly into his account and gave him the balance of cash when I picked up the car.

Quietcropduster

Former AML Manager here, banks wont nail u for structuring unless they see a pattern of activity doing as such and without a logical reason. All they do is file a CTR, they reach out call u and ask what it's for, u tell them the truth (purchasing a vehicle), all is well.

If u BS them and they get suspicious that's when u have issues. But even so, u really have to put in some serious effort for them to file a SAR. Plus it takes 3 before they give u the boot.

Zjoe6

I bought a new DD recently and had an old car to trade. Worth maybe $4500 in a trade and $6000 in a private sale. In the old days I would sell it myself to pocket the difference. But this time I just said screw it and let the dealer have it as a trade on my new one. I did this for reasons stated in this thread but I also didn't want to deal with all the tire kickers and low ballers. Every year I get less motivated to sell stuff online. The scammers are the biggest reason. I tried to sell something for a few hundred bucks on Craigslist a couple years ago. It was the "enter my phone number and give them the code" scam. Even though it says to not give the code to anyone, and of course I didn't. The was the end of Craigslist for me. There are slimy people all over that place and I think they are the majority now. It's everywhere these days. If things are being sold online the scammers are there like insects.

Budarooski

Like this one I received a few days ago?

MartyKC

Yep, even legit transactions now take some time, just to be sure. I sold some wheels, and it was obvious both the buyer and me (seller) were being extra careful. Do your research, if something sounds fishy, it likely is fishy. Literally phishing.

Check out profiles, check posts, do your diligence. There are still good people out there trying to exchange goods for services. Don't let them "win".