Lamudi warns of rising online rental fraud

CASES of fraud in online rental property transactions are increasing globally, and customers and property owners alike should exercise caution, online listing service Lamudi Group said in a statement on Friday.

Lamudi cited the example of England, where police have reported a 44 percent increase in rental-related scams affecting 3,200 house hunters in the past year.

The England rental market--a real estate market that has been online for more than 20 years-has recorded more than 1 million cases of rental fraud since 2013, according to a survey by YouGov, an international internet- based

Lamudi cofounder and managing director Paul Hermann noted that as the real estate market moved online, it has become easier for unscrupulous people to carry out rental scams.

“The property market going online made everything easier for everyone, and that includes fraudsters,” Hermann said.”

Online frauds usually involve phishing scam, wherein the con artist will gain access to a mail account of an agent or homeowner.

“In some unfortunate cases, a buyer will make a deposit, and the con artist will disappear leaving no trace,” Lamudi explained.

The phishing scam is carried

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