FADA has been informed of a new scam that involves the use of fraudulent bank statements and bad checks. Young individuals, or a young couple, come in to buy a vehicle during non-banking hours. The dealer is provided with a bank statement indicating a recent pending check deposit for more than twice the value of the purchase and requests to leave a check in the amount of the purchase, with an agreement to return with a cashier’s check the following day. The driver’s license and contact information given appear to be legitimate, so the dealer authorizes the use of the vehicle under a loaner agreement; they will return the following day to complete the purchase.The individuals will then call later telling you they are having a problem with that account, which is then “notifying” you that the check is no good.  This buys them time to sell the vehicle, and because of the bank statement saying “pending” as well as their notification, they technically by law, did nothing wrong thus far.

Ultimately, the individuals fail to return the vehicle as the objective is to sell the car to someone else. This scam is believed to be part of a new theft ring that has happened in various parts of Florida. Please alert your staff to be on the lookout. Please contact FADA ([email protected]) if this has happened to you, so law enforcement can work together.