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Book AppointmentTenancy fraud – where the scammers operate and what they do
A tenant referencing PropTech firm claims the lettings industry is facing a growing threat from fraud.
Homeppl claims 60% of all the cases flagged via its technology in 2024 were in London, with the west of the capital being particularly prone to this crime.
Manchester is the second-highest fraud area representing just under 10% of cases, followed by Surrey (7%) and Essex (6%). Birmingham, Sheffield, Dublin, Portsmouth and Glasgow also appear.
And it says the average monthly rental value targeted by fraudsters was £2,517, with falsified incomes averaging £85,945.
Some 94% of fraud cases involved fake documents, with doctored bank statements being the most common tactic. Of the fraudulent applications 49% said they were from the UK, followed by Romania (7%) and India (6%); Nigeria (4%), Italy, Ireland (3%), France (2%), Netherlands (2%) and Poland (2%) also appeared.
The average age of fraudsters was 33. The youngest fraudster was 20; the oldest was 70. Letting Agent Today
