‘Exchange Inc.’ vehicle scams leaving buyers feeling overheated
/ Published August 22, 2019
According to a recent Better Business Bureau study, service members are more susceptible to fraud than average consumers. In fact, scammers using the name “Exchange Inc.” have been attempting to fool Soldiers and Airmen into thinking they are working with the Army & Air Force Exchange Service to broker the sale of used cars, trucks, motorcycles, boats and boat engines.
“For years, scammers have used the Exchange’s trademarked logo and name without permission to purportedly sell vehicles in the United States,” said Steve Boyd, the Exchange’s loss prevention vice president. “Some military members have sent money thinking they’re dealing with the Exchange, only to receive nothing in return.”
Military exchanges do not have the authority to sell vehicles or represent private sellers in completing transactions in the continental United States. Scammers have left consumers with the impression they are doing business with the Department of Defense’s oldest and largest exchange service.
The scammers typically direct potential buyers to use multiple third-party gift cards to pay for purchases. Most recently, scammers required payment using Google Play gift cards. To verify any suspicious payment method requests, military shoppers can call Exchange Customer Service at 800-527-2345.
The Exchange operates solely on military installations and via ShopMyExchange.com. The Exchange does not act as a broker in private transactions and does not advertise in classified advertisement or resale websites.
Shoppers who believe that they may have been taken advantage of can file a complaint through the Internet Crime Complaint Center at www.ic3.gov.