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Rental fraud

It happens when the property offered by the firm does not exist or has already been lent, or it has multiple tenants who have already made deposits for the same house. Such scamstarget people like students who trust the dealers. They attempt to get a university accommodation without much investigation. 

The unsuspecting victims pay the upfront, but they do not get the dwelling on rent. Some lettings have created apps to examine the prospective tenants' behaviour and transactional ability, and some offer packages for homeowners and provide features to reduce entry barriers for tenants. 

Also, there are other services integrated into some sites like guaranteeing rent and covering the cost of damage. 

How To Protect Yourself?

  • Do not transfer money into the account of someone who posts adverts of lettings on social media sites unless you know the agency is reliable and offers genuine approved and refundable services.

  • Do not make deposits unless you visit the property. If you are searching for flats in the UK from overseas, ask the university staff or the employer to make arrangements, or seek help from a friend or a known person, to avoid losing money to scams.

  • Ask for all the property documents, like the bills and HMO license, before finalising the deal.

  • Do not book a house under pressure. Always follow the steps like checking the details carefully. Always be suspicious of making a fund transfer to an unknown account through a money transfer service.

  • If you suspect fraud, raise concerns and report it to the concerned authorities.

Date Published: Jan 20, 2022

Types of fraud

A-Z of fraud

To help understand which fraud you've been affected by, we've categorised them into an alphabetical list.

What is fraud and cyber crime?

Cybercrimes can be of two types. First, it can be cyber dependent, where the fraudsters use online devices to convince the victim to accept their offers.

Advance fee fraud

If you are trying to get a loan for a house or a car, they ask to meet the provider to get the financing arrangement and pay the finder's fee in advance.

Corporate fraud

Corporate frauds can be complicated, committed either by the firm or an individual. Nevertheless, it mostly involves cheating where the employee or the firm.

Individual fraud

There are many types of individual frauds related to advance fees, investments, insurance brokers, bogus tradespeople, Ponzi schemes, pension liberation.

Online fraud

Hence the number of cases of online fraud is increasing each year, and most such cases include – account takeover, direct frauds, or scams related domain names.

Identity fraud and identity theft

The criminal uses the stolen identity of another person living or deceased to conduct unlawful activities like obtaining goods or services in another's name.
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