DENVER — Denver7 is always looking for ways to help you shop smarter. We've covered the ways that shopping second-hand can help you save money. But if you're doing that online, it can come with some risks.
We spoke with Manager of Fraud Investigations at Ent Credit Union Lynzi Crippen about red flags you should watch out for as a buyer.
"You should do your research and see what the cost of it is brand new," she explained.
Crippen said you should compare that cost with the price you see listed. If that sale price is much lower, it's probably too good to be true.
There are many reasons why a price might be lower than what is typically on the market. Crippen said it could mean a product is damaged, it's been recalled or it's not what's advertised.
Crippen also suggested avoiding a deposit.
"You can't recover that money if you're scammed," she said. "Unfortunately, you're out of your money and you don't have that product."
If you're selling something in an online marketplace, you'll have to look out for scams too. The Federal Trade Commission (FTC) suggests you never deposit a check for more than the selling price, and don't share any kinds of verification codes with someone you don't know.
In any case, Crippen suggests buying and selling locally so you can meet up with the other party in person. The buyer can take a look at the product, and the seller can make sure the payment goes through.
If you do meet in person, Crippen said you should meet in a safe public place. That could be a store, a bank, or even a police station.
If you think you've been scammed, you can report it to the FTC.
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