New car deal scam targets citizens in capital amidst soaring inflation

Islamabad:A wave of online fraud has hit the capital city, leaving residents vulnerable to scams that prey on their desire to purchase vehicles. As inflation worsens and economic pressures mount, fraudsters have devised new schemes to exploit unsuspecting car buyers, leaving many out of pocket.

In recent weeks, numerous reports have surfaced about scammers posing as sellers of used cars. These fraudsters are using the biggest online platform to lure buyers by advertising vehicles at attractive prices and explain its features like mint condition, scratchless, original paint, single owner, etc. by posting borrowed pictures of the vehicles. Once the buyer expresses interest, the fraudsters request a token payment through bank transfer apps, typically a wholesome amount (Rs10,000 to Rs25,000) to reserve the vehicle. Victims are then directed to a location that is different from the one mentioned in the advertisement.

After the payment is made, they disappear without a trace, often deleting their entire conversation history and switching off their phones, making it impossible for the victims to reach them. The fraudulent bank accounts used for these transactions are usually linked to digital wallet apps, making it difficult to trace the funds.

The scam has caused alarm, especially at a time when citizens are already grappling with the worst inflation. Many victims report feeling deceived and frustrated, as they lose their hard-earned money while hoping to save costs by purchasing a second hand vehicle during these difficult times.

One of the victims, Arbaz Khan, shared his experience: “I saw an ad for a car at a good price, and everything seemed legitimate. After a long conversation with the seller, I agreed to pay a small token to reserve it. When I arrived at the location, no one was there, and the seller’s phone was off. Within minutes, the entire chat history had disappeared.”

Authorities have issued warnings to the public to exercise caution when making online transactions, especially for large purchases like vehicles. We urge citizens to avoid making any payments before verifying the legiti macy of the seller. In case of suspicion, report the matter to the authorities immediately.

The rise in such scams is a troubling sign, particularly as Pakistan faces an economic crisis. Many citizens, desperate to cut costs and find better deals, may fall prey to such fraudulent schemes.

The bank authorities should investigate such incidents who have proofs to such frauds and enhance digital fraud detection mechanisms. Zafar Iqbal one of the victim whose advance was also snatched by some con said that I am surprised as to how bank authorities are unable to trace the fraudster as we are showing the name and the bank accounts we have transferred the amount. The public is advised to remain vigilant and to report any suspicious activities.