Fraud question from Foundation Buyer

JWY

Your description is the reason background checks are becoming routine -too easy to scam on the bonafides today. Sad for all of us, even on the consumer side

I have not encountered this particular client, but I have come in contact with a few curious characters over the years. I like to know who I'm doing business with. Its not uncommon for me to do some serious Google searching using available info to see what pops up. The resulting info has been quite useful.

I really wish I would have done that on a current buyer I'm dealing with. Bipolar doesn't even begin to sum it up.

Bipolar is not a great scarcity in the business... in buyers or sellers.... but google search is basic...

You'd be surprised how the most "simple" deals dont go through because in the end one of the parties goes bi-polar, and some deals are roller-coaster from day 0, and it works out...

weird people exist in every corner, every creed, every culture and if given enough money they go into boating! haha

There are relatively inexpensive subscription services on the net that provide a pretty good background check. If the customer/client won't give you a tax Id Number to do it, I'd get suspicious in a hurry. Here in NY these checks are regularly part of the due dillence.

As a buyer and seller I have never given a tax id... I am not a US national nor do I own a US corporation... I dont see anything wrong with that... Most boaters in the world will fall under both categories I stated above.... I'd frown if a broker asked me for my tax ID in order to go on..... Google my name is good enough... Imagine trying to get a company started and asking your potential-clients for their tax id and references to make sure they 'check out'... that company, my friend, wouldnt take off... people take offense at that sort of thing...

Googling and other more "covert" tactics to know who you are dealing with will be just as effective and much less traumatizing...

RYN

I understand your point entirely. I guess the process depends on the buiness practises of your area and the size of the deal. I do it all the time for my real estate clients here in NY - particularly commercial leasing. We don't do it for prospects, but before contracts, my clients want to know all about the other side of their deal. I whole heartly agree with you, though, at a minimum google the guy - its so easy to do.

Yes, it makes full sense for real estate, esp commercial... Its quite common-place in most countries I'd assume... I was talking about boat deals... In boating most people know each other, and references can usually be obtained relatively easily too...

One thing I learnt is that you should never (or as least as possible) judge your client by their "looks" ("looks" = whatever your impression of him may be...from his demeanor, clothing, car, etc...)... you can get burnt either way... A conman wont be wearing ****** clothes, and a legitimate client may... so allowing that to cloud your judgement is bad...

On the other hand, I've also learnt to trust my instincts, and that if something smells fishy, it probably is... but people do surprise me on a semi-daily basis so its best to be conservative, but not over-judge... do your checking, but try and do it non-intrusively, etc... but then in the end, before committing any cash or goods, etc a check consistent with the transaction is quite in order!

JWY

I guess the absence of a google fooprint should raise suspicions also,
particularly if the customer/client makes impressive claims?

BTW, here in NY we have PI's who are scam artists themselves, and will relieve you of $250 with a smile.

Why can't all people be like we nice folks on Yachtforums ??

Yes indeed. With exceptions: I did business with a very legitimate, very successful entrepreneur that worked hard to fly under the radar. I found very little info on him, and he turned out to be a sweetheart of a customer.

Broker beware!

It is extremely difficult to be totally off things like google etc... even with good PR, etc, almost impossible... and the more substantial the individual, the more likely he/she is to have done some philanthropy, be involved in other projects which get cited online, etc... even if direct business info is scarce, it is usually possible to find info on the person...

there may be some glaring exceptions, as there are to everything, but i guess what we can takeaway from the post is google first, then worry, but dont over-worry

My name does not come up on Google in any way, shape, or form! LOL