Police issue warning after a surge in fraudulent property rental scams
In 2022, 997 individuals in Singapore were duped into losing S$3.9 million to scammers pretending to be legitimate property agents. The authorities issued a public advisory on August 26, highlighting the growing issue of fraudsters posing as registered agents and demanding payments from victims in advance of property viewings.
How the scam operates
Scammers attract victims through fake online property listings, which feature contact details to engage in further communication via WhatsApp. They then pose as professional property agents, providing fake credentials, such as a business card image and photos or videos of the property.
The scam continues with the fraudsters asking for personal information from the victim to prepare a rental agreement. If the victim expresses a desire to visit the property before signing, they are told that the landlord is unavailable. To appear more legitimate, the scammers send a copy of the lease agreement that includes the purported owner’s details and ask the victim to sign.
Following this, the victim is told to make a payment, which is presented as a deposit, stamp duty, or other fees to secure the rental. It is only after the payment is made that the victim realises they have been scammed, either when the scammers stop responding or when they reach out to legitimate agents and discover the fraud.
How to verify property agents
The police advise the public to verify the authenticity of property listings by contacting the agent’s agency directly. It is essential to check that the agent’s phone number matches the one registered with the Council for Estate Agencies (CEA). If a number is not registered, the listing is likely a scam.
