Internet car bidding scam rips off foreigners


Foreigners were the main targets of a car sale scam carried out through an internet auction site, a senior official at the Hungarian Investigation Office NNI told MTI on Wednesday.

Four Hungarian nationals suspected of the scam have been apprehended and police is out for their partners - possibly foreign residents - with the help of Interpol, Csaba Papp said. The scam involved cars being offered for sale through internet bidding to US, UK, Greek and Czech citizens, and the bidders were sent e-mails asking them to transfer money to private accounts held at Hungarian banks rather than going through the normal bidding procedures.

Police have so far tracked down 35 victims, who altogether paid €9,000, nearly £120,000, $87,000 and Ft 1.23 million (about €4,800) into the suspects' accounts. Most of the money has been withdrawn from the accounts already, Papp said. This is the eleventh case of a similar nature investigated by police over the past six months, and it is clear that the number of such scams is on the rise in Hungary, Papp said. (


Nagy: More Involvement in Insurance Market Banking

Nagy: More Involvement in Insurance Market

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Home Loan Rates Climb Over 10% Residential

Home Loan Rates Climb Over 10%

Countries Exchange Experiences for Better Production of Catt... Conferences

Countries Exchange Experiences for Better Production of Catt...


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.