A report by Thirdfort has identified the top eight types of property most at risk from property fraud.
It can be seen here, and says that data from the Credit Industry Fraud Avoidance System (CIFAS) reveals identity fraud remains a key threat and the number of cases recorded has grown by 22% to 226,000 in 2021.
It goes on further “Absent landlords make it easier for fraudsters to obtain the post and impersonate the landlords without their knowledge.
“For a rented property a tenant may be able to impersonate the owner. They have access to the property and can obtain identification at the address.”
The other types of property most at risk from fraud include mortgage-free properties, deceased property owners and residents in a care home or hospital.
It states thatThe 8 Property Types Most At Risk
- Sole or long-established owners
If there is only one or a sole owner of a property, it makes it easier for the criminal to steal or fake an ID and impersonate the owner.
- Mortgage-free properties
Often, there are fewer checks and hoops to jump through with mortgage-free properties, so criminals see them as easier targets.
- Rented property
A tenant may be able to impersonate the owner. They have access to the property and can obtain identification at the address.
- Absent landlords
Absent landlords make it easier for fraudsters to obtain the post and impersonate the landlords without their knowledge
- HMLR unregistered properties
There is no registered title and no official record of the legal owners.
- Residents in a care home or hospital
Property fraud is easier to commit as the property may be vacant or its owners are preoccupied with their health or other concerns.
- Deceased property owners
If an individual is deceased, it is easier to obtain their identity by impersonating an owner using false or stolen ID.
- Property for sale
Fraudsters can pose as potential buyers to enable them to collect information on a property and a seller to facilitate fraud.