Anatomy of a Scam: How a Seasoned Porsche 911 Enthusiast Lost $20,000 with a Single Click

      Konstantinos Moraiti; Mopic - stock.adobe.com, Andrew P. Collins

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      Michael “Mikey” Foley embodies many traits. He is intelligent, practical, resilient, and resolute. He possesses street smarts and insight, clear on what he desires and where to find it. His hobbies require significant patience and attention to detail, particularly in his pursuit of Porsche 911s to purchase, as he shared in our first conversation. However, for one pivotal moment earlier this year, Foley found himself acting rather foolishly. We will revisit that moment shortly.

      In this instance, he sought a specific model of 911, and out of respect for the challenging year he had already faced, I will refrain from detailing what makes his desired vehicles unique. It is enough to note that, similar to many air-cooled Porsches, sourcing them from Europe can be easier than obtaining them in the U.S., even when considering import costs.

      Earlier this year, just days after losing out on a listing for what could have been the ideal vehicle, Foley fell victim to a scam that would leave him $20,000 poorer—and feeling foolish.

      “Make that the headline,” he stated candidly. “I’m not one to shrink back or feel ashamed about this because I’ve never been the type to fall victim to a scam.”

      Famous last words. Over several discussions, Foley described a scam so expertly executed that he complimented the fraudsters on their operation after willingly wiring $20,000 to an unverified overseas bank for an unseen vehicle from a seller who, as it turned out, was using a fake listing as bait to attract a specific type of buyer. And it worked seamlessly.

      The link Foley followed led him to the scammer’s private listing.

      “I told that man I loved him,” Foley exclaimed. “Can you believe that?”

      I can believe it because, if there's one lesson I've gleaned from writing this piece, it’s that the primary safeguard against scams is the assumption that one could be scammed. In essence, the moment you start to think you’re immune, you become more susceptible than ever.

      While con artists have been operating long before the internet connected us all, the online world has simplified low-effort scams even further. They are so prevalent that your email inbox routinely receives messages from Nigerian princes and individuals claiming to have stolen intimate photos. However, it’s these kinds of scams that make us vulnerable to more elaborate ploys aimed at extracting our money.

      While those scams may be transparently unsophisticated, that’s because they target individuals who are less street smart. Scammers aiming for bigger prey—like buyers who are ready to commit a five-figure deposit on a vintage sports car allegedly located half a world away—must operate at a higher level.

      This is how Foley unintentionally transitioned from being the hunter to the hunted. He acknowledges that he was especially susceptible when ensnared by the scammers, having just passed up the chance to acquire a nearly perfect example of the specification he desired.

      He discovered the vehicle on Autorola—a European used car listing site. The twist? It was a fair, albeit not exceptional, deal. The scammers had set the price at a level that was tantalizingly affordable, causing no red flags to arise.

      At its core, the basic scam is as straightforward as any bogus Craigslist ad. The whole premise is to obtain money in exchange for a product or service that doesn’t exist—in reality, not in the hands of the so-called seller.

      That aspect is easy to execute. Numerous images of vintage 911s circulate online. In the vast majority of fake listings identified over the last few weeks, the photos were simply lifted from a legitimate auction site—often a reliable one like Bring a Trailer.

      This superficial aspect of the scam is vital. Scammers compete for clicks like anyone else. High-quality images draw you in and start to lower your guard. After all, a comprehensive gallery complete with service history suggests an upfront seller, right?

      Sure, if the “seller” is real.

      But Foley was cautious and sought more than just appealing images as proof of existence. When he established communication with the alleged seller, he received a new link to the listing along with instructions to use it moving forward. This link would also act as the payment interface for his eventual purchase.

      This moment was pivotal; from here on, Foley was no longer operating within the (relatively) secure confines of Autorola’s platform, where he had initially found the car. Instead, he was in the scammers’ private playground.

      Once he was hooked, he received further “documentation” of the car’s existence, including information that allowed him to conduct some personal research. Among the details was a note indicating that the car had undergone paint correction at a particular shop, prompting Foley to reach out to see if they