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Special Finance® Shuts Down Fraudulent Websites

April 13, 2010

SANTA MONICA, Calif. — is currently working with authorities, Web hosts and banks to put an end to a scam that victimizes online car shoppers. was successful in shutting down two fraudulent Websites, and, but is concerned that other such sites may emerge.

“If you see a classified ad that references an Edmunds escrow service, please report it immediately to the Website hosting the ad,” encourages Senior Vice President and General Counsel Kenneth Levin. “ does not have an escrow service, but criminals are fraudulently using our site’s name, logo and likeness to induce car buyers to send them the payment for the car — falsely assuring them that the money will be safely held until the vehicle is delivered.”

Individuals who believe they were victims of the scam are being ask to contact their bank as soon as possible to cancel the transaction. The automotive information site is also asking individuals to report fraudulent used-car advertisements directly to the Websites that hosted them.

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