Resurgence of scams impersonating property agents impacts victims in Singapore
Between July and November 2023, nearly 300 victims in Singapore lost at least S$1.8 million to a surge in rental scams. The Singapore Police Force (SPF) reported that scammers were posing as registered property agents, pressuring victims into making deposits to secure property rentals or viewings.
Victims typically encountered these scammers through sponsored property rental listings on popular online platforms. Once contacted, scammers impersonated legitimate agents by sending fake credentials such as Council for Estate Agencies (CEA) registration numbers, business cards, and even virtual tours of properties. They would then pressurize victims into making deposits by claiming high demand for the property.
In some cases, victims were told to meet with a personal assistant of the fake agent, further convincing them of the scam’s authenticity. However, after making the required payments, victims found that the agents ceased communication, and their attempts to contact the legitimate agents revealed they had been scammed.
To protect themselves, SPF advises the public to use the ScamShield App, verify property agent details through trusted sources, and ensure that any rental deposits are paid directly to the real estate agency’s official bank account—not to the personal accounts of fake agents. Additionally, property agents should never demand payments just for viewing properties.
As scams involving property rentals continue to evolve, authorities and industry bodies like the Council for Estate Agencies are stepping up efforts to combat fraudulent activities and protect consumers.
