Rental scam cases surge as fraudsters ‘shamefully’ | European Markets

Instances of criminals scheming Britons out of money for pretend rental properties have surged previously yr, costing unwitting victims hundreds of kilos.

Rental fraudsters sometimes goal their victims by offering entry to properties that don’t exist or that aren’t theirs to rent. They usually use pretend particulars and photographs and offer costs effectively beneath the market fee.

The scammers usually demand a deposit or the primary month’s rent to secure the property and even prepare a viewing. Many people determined to seek out a home can pay up-front to keep away from lacking out. The fraudster then disappears with their money.

In keeping with figures launched by the Residence Workplace, primarily based on information from the Nationwide Fraud Intelligence Bureau (NFIB), rental fraud losses amounted to almost £9million final yr throughout practically 5,000 instances.

Fraud Minister Lord Hanson mentioned: “Rental fraud is an utterly shameful crime, and this new data should serve as a stark reminder that anyone can be a victim. It doesn’t matter how streetwise and tech-savvy you are; fraudsters will get to anyone who doesn’t stop and think before handing over their money.”

The NFIB data, covering England, Wales, and Northern Ireland, shows that the 18 to 29-year-old age group accounted for nearly half (48%) of reported rental fraud cases last year, with the 30 to 39-year-old age group accounting for a further 25%.

Those searching for a new home to rent during the spring months are urged to avoid rushing into a quick decision or paying any money for a rental property before viewing it in person.

With rental fraud often occurring through properties advertised on social media websites, the Government said it is renewing calls for tech companies to go further and faster to tackle fraud on their platforms.

Lord Hanson said: “I am determined to root out fraud from our society, crack down on the callous criminals behind it, and ensure that stronger protections are put in place by the tech companies on whose platforms much of this fraud takes place.”

He added that the Home Office will progress on these issues through the next phase of its “Stop! Think Fraud” campaign and the new fraud strategy it’s developing this year as part of the Government’s “Plan for Change.”

Oliver Shaw, commander for fraud and cybercrime at the City of London Police, said: “We proceed to work to focus on rising cybercrime and fraud sorts that might be a menace, understanding the significance of reporting, and advocating methods the public can stop themselves from turning into victims of fraud.”

The figures were released as the National Cyber Security Centre (NCSC), part of GCHQ, launched the second campaign phase encouraging people and small businesses to set up two-step verification (2SV) on their most important accounts.

This adds an extra layer of security, making it much harder for criminals to access accounts even if a password is compromised.

NCSC chief operating officer Felicity Oswald said: “On-line fraudsters are consistently discovering new methods to trick you into sharing personal data or money, however fortunately, there are methods to guard your self.

“Today, we’re launching a nationwide campaign urging everyone to strengthen their security by enabling two-step verification (2SV), which adds an extra layer of protection to keep your accounts safe.”