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[music]
>> DAVID: Hi. I’m David, from Bank of the West. We’re here to talk a little bit about
online Fraud.
There are many kinds of online fraud, but in this video, we’re going to focus on auction
fraud.
Auction fraud is generally the misrepresentation, or non-delivery of items that are purchased
through an online auction site. And, it’s one of the top leading consumer complaints
to the Federal Trade Commission.
So how can you protect yourself against auction fraud?
It’s a good idea to be familiar with the auction site that you’re using, and whatever
protections they offer buyers and sellers.
So never provide personal information like your social security number or your driver’s
license number for an auction.
Don’t provide your account number or payment details until you’ve done your research
and you’re ready to make the purchase.
You should be very wary of buyers who over-pay or want to purchase outside the auction, and
will request to refund excess payments made.
Some of the well-know online payment services offer buyer and seller protection, whereas
if you wire or send funds directly, you don’t get that protection.
For more information on protecting yourself you can visit the security and fraud center
on bankofthewest.com
And remember, if something sound too good to be true it probably is.
Thanks for watching.