In our area, there has been an increase in scams targeting people purchasing heavy equipment online.
Recently, a local bank customer lost $14,000 after wiring money to buy a piece of equipment advertised for a fraction of its real value — a deal that seemed too good to be true.
The seller’s website appeared legitimate, but it turned out to be fraudulent. The funds were wired to the scammer, and the equipment never arrived.
Red Flags in This Case:
Unrealistic price — The equipment was advertised for $14,000, but typically sells for $50,000+.
Unfamiliar seller name — “Iron Gear Equipments” (scammers often use professional-sounding but fake business names).
Unusual payment instructions — Wire details sent from a generic email address: [email protected].
How to Protect Yourself:
Be cautious of deals that seem too good to be true.
Research the seller — search for reviews, verify their physical address, and confirm contact information.
Never wire funds to someone you haven’t met in person or verified.
If you believe you’ve been targeted, report it at IC3.gov immediately.
At Fidelity Bank, we’re committed to keeping you informed about current scams so you can protect yourself and your money.
Stay alert, and share this information with friends and family who may be shopping online for equipment.
