Landlords are at risk of having their identities stolen and assets sold in a new property scam, the Metropolitan Police has warned.
A number of landlords of properties being managed by some UK letting agents have had their personal details stolen. As part of a scam, the fraudster then e-mails the lettings agent from a Yahoo e-mail address in a bid to con the agent into believing they are the building owner.
The fraudsters build up communications with the estate agent, and after a short period, inform the agent that they wish to sell the property or want to raise a mortgage on the property.
Agents are being urged to tighten security in response to the deception, which the Property Fraud Forum tipped-off the police about.
A spokesman for the Met said: “This is a complex fraud, which suggests the fraudsters have a very good understanding of estate agency. The fraudsters also understand how the agent, solicitor and mortgage adviser and lender interact with each other, and the weaknesses in their processes, which allows them to convince all parties that they are dealing with the genuine landlord.”
joanna.bourke@estatesgazette.com
