Beware this car scam making a comeback in South Africa on TikTok
WesBank has warned car buyers in South Africa about the resurgence of online auction scams, especially on platforms like TikTok.
Fraudsters are preying on unsuspecting buyers looking for a quick bargain in the automotive retail space.
These sophisticated scammers are creating fake accounts that use WesBank’s branding, making it seem like official representatives are selling bank auction vehicles.
They try to lure unsuspecting buyers in with “irresistible deals”, which pressure them to pay over large sums of money to “secure” what appears to be an auction-listed vehicle.
Once a payment is made, scammers quickly close their fake accounts and vanish with the money, leaving victims with no recourse.
“Always ensure that you are dealing with a registered auction house, and in the case of a bank auction, an official bank representative,” said Lebo Gaoaketse, Head of Marketing and Communication at WesBank.
“Do not be enticed into accepting unofficial offers. It is often a ploy to defraud those looking for a good deal. Trust your instincts and proceed with caution. It’s better to err on the side of caution than to fall victim to a fraud scheme.”
The FirstRand-owned company said that staying alert to red flags is crucial to protecting yourself. These are common red flags:
- Sellers requesting payment outside of the official auction platform.
- Reluctance to provide additional information or photos of the vehicle.
- Vague or inconsistent product descriptions.
“We urge participants to report any suspicious activity promptly to the auction platform to prevent others from falling prey to scams and contribute to a safer online marketplace,” said Gaoaketse.
“By taking note of these guidelines and exercising caution, buyers can confidently navigate vehicle auctions, maximising their chances of securing a quality vehicle at a reasonable price.”
WesBank has also given customers the following tips to help safeguard against online auction scammers:
Registration and deposits
WesBank said that registration is mandatory to participate in a legitimate auction. A refundable deposit is typically made by the bidder upon registration.
A WesBank auction would never ask for a deposit to secure a specific car before the auction. “If you’re asked for such a deposit, it’s a major red flag.”
Know the terms and conditions
It added that one should familiarise oneself with auction sales’ general terms and conditions.
This includes understanding payment procedures, buyers’ responsibilities and refund policies. “Knowing these guidelines will help you more easily identify and avoid scams.”
Too good to be true
South Africans should remain vigilant of potential scams, particularly from online platforms.
They should always deal with a reputable auction house and an authorised representative. As the old saying goes, if an offer seems too good to be true, it probably is.
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