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Boats for sale on Craigslist suspected as escrow scams

If you're looking to buy a boat advertised for sale on Craigslist or other online ad services, make sure there's actually a boat before you deposit any money.

Recently, boat buyers have lost thousands of dollars after putting money into escrow accounts at the seller's request, warns the Wisconsin Department of Agriculture, Trade and Consumer Protection.

"An Illinois buyer deposited more than $20,000 in an escrow account to purchase a boat in Wisconsin through a fraudulent posting. As soon as the money hit the escrow account, it was transferred out of state and then overseas, leaving the buyer empty-handed," the department said in a news release.

Click here for the full report by the Milwaukee Journal Sentinel.