The digital age has transformed property transactions for buyers, sellers, and rentals, but has been infiltrated by sophisticated criminals and syndicates. They use deception and fraud such as phishing, malware, and identity and information theft across platforms such as Facebook and Google to target victims, making online property fraud increasingly widespread and difficult to detect.
The Seeff Property Group therefore urges the public and property clients to exercise extreme caution as these fraudsters are increasingly targeting property sales and now also rentals through highly sophisticated scams, particularly on Facebook and Google.
Fraudsters copy legitimate property listings to create convincing fake adverts that trick potential tenants into paying money. Sometimes, the advertised properties do not exist, or listings are duplicated. In other cases, they use real agents’ photos and agency profiles to make their scams appear authentic.
The tactics used are alarmingly effective, and designed to easily dupe unsuspecting people, often those who are urgently looking for rental properties.
What to look out for and how these fraudsters operate?
Fake profiles and property adverts. Fraudsters create nearly identical fake profiles and property listings. They often use company logos, sometimes outdated, or altered, to closely mimic real adverts, making these scams difficult to initially detect.
Deceptive tactics. Criminals exploit tenants by targeting rental properties. They demand immediate payment for application fees, deposits, and first month’s rent, often without offering a physical viewing, leaving tenants vulnerable to scams.
Convincing details. Fraudsters often use email addresses closely resembling those of real agents, and provide fake bank details. They may send blank or poorly formatted lease agreements to appear genuine, making these property scams hard to spot.
Widespread platforms. Scams are not limited to Facebook, but appear on Google, WhatsApp, Gumtree, and other platforms. Fraudsters even create duplicate websites, targeting those searching for property online and expanding their reach significantly.
Property transactions. In property sales, criminals hack into agent and attorney emails, intercept correspondence, and send fake banking details, causing victims to instantly lose substantial amounts, with little chance of recovering the stolen money.
Losing a rental deposit, housing deposit, or the entire purchase price is financially devastating and often irreversible. Vigilance is your primary defence. Before responding to a property advert or payment request, you must always check and verify.
Take extra care and verify before handing over money
Verify the agent and agency. Verify the agent’s identity and agency by calling the official branch number, not contact details from adverts or emails. Confirm their credentials on the company website to ensure authenticity before proceeding.
Insist on a physical viewing. Do not pay an application fee, security deposit, or first month's rent if you have not physically viewed the property with a certified agent. Avoid excuses such as keys not available or the owners being out of the country.
Confirm banking details. Do not click links and do not transfer money when requested by email or WhatsApp. Call the known, trusted number of the attorneys or agency, and verbally confirm the payment details before initiating the transfer.
Scrutinise the email address. Inspect the sender’s email address carefully. Fraudsters often use subtle misspellings or generic free emails (such as Gmail or Hotmail) instead of a professional, agency-specific domain.
Be wary of deals and urgency. Scammers often offer discounted rental prices or favourable terms to create a sense of urgency and make you drop your guard. If a deal seems too good to be true, it almost certainly is. Never rush a payment.
Do not become the next victim of digital property fraud. The responsibility for safeguarding your funds rests heavily on your shoulders. Stay alert, question everything, and confirm, confirm, confirm.