Auto fraud accounts for 12% of all online purchase scams, totaling $64 million in consumer losses.
Orange County, California (PRWEB) September 23, 2014
Escrow.com, the pioneer of online escrow services, and ClassicCars.com, the leading digital marketplace for collector cars, today announced a partnership to provide the safest and most secure way of purchasing classic motor vehicles on the Internet.
Under the agreement, Escrow.com and ClassicCars.com will be working together to offer an enhanced, secure and seamless transaction for classic cars buyers and sellers utilizing an easy to use platform designed to meet their needs.
Per the most recent annual report by the Internet Crime Complaint Center, a partnership between the Federal Bureau of Investigation (FBI) and the National White Collar Crime Center (NW3C), auto fraud accounts for 12 percent of all online purchase scams, totaling $64 million in consumer losses.
ClassicCars.com is a vibrant marketplace for buyers and sellers, attracting more than 2.5 million visitors a month, with an inventory of more than 30,000 cars for sale.
”The growth of ClassicCars.com over the years has been impressive and their desire to provide an environment that focuses on safety has truly been remarkable,” said Brandon Abbey, Escrow.com President and Managing Director. “We are excited to offer our safe transactional platform to ClassicCars.com and their enthusiasts around the world.”
As the leading online escrow service, Escrow.com reduces the potential risk of fraud by acting as a trusted third party that collects, holds and disburses funds according to Buyer and Seller instructions. Escrow.com is a government licensed and regulated online escrow company compliant with Escrow Law.
“We are constantly developing new and unique programs that will help serve the needs of not only our current audience, but also to help attract and engage future enthusiasts to help grow the collector car hobby for years to come,” said Roger Falcione, President and CEO ClassicCars.com. “Partnering with Escrow.com to provide safe and secure transactions is key to that success.”
About Escrow.com - Headquartered in Rancho Santa Margarita, CA, Escrow.com, a privately held company, has pioneered the process of online escrow services. The Company, founded in 1999 by Fidelity National Financial, has established itself as the leading provider of secure business and consumer transaction management on the Internet. Escrow.com is a government licensed and regulated insured and bonded online escrow company compliant with Escrow Law.
About ClassicCars.com - ClassicCars.com is transforming the collector car buying and selling experience through strategic technology development, superior customer service and innovative products and services. ClassicCars.com is the world's largest provider of classic car marketing services bringing buyers, sellers, and enthusiasts together. Our car community reaches more than 2.5 million car enthusiasts a month and focuses on supporting their interest in the collector car hobby/industry.
For more information about the Escrow.com and ClassicCars.com partnership, please go to