Rental fraud cases down – but amounts lost rise sharply
Summary
Reported rental fraud across England and Wales has fallen over the past three years, but the financial harm per case has increased sharply. Total losses have risen despite fewer reports, indicating that individual incidents are becoming more costly for victims.
Why it matters
Residential property surveyors may encounter fraud risks in tenancy, landlord verification and transaction-related checks. The trend reinforces the need for robust identity verification and awareness of deposit protection and documentation controls.
Key points
- Reported rental fraud cases fell by 18% over three years.
- Total annual losses rose from £10.74m to £12.84m.
- Average loss per report increased by 46% to £3,138.
- Some areas saw large declines, while Warwickshire, Devon and Cornwall recorded increases.
- The article stresses verification and use of official deposit protection schemes.
Organisations:
Just Landlords, Action Fraud, Metropolitan Police
Locations:
England, Wales, Derbyshire, Bedfordshire, Wiltshire, Dyfed-Powys, Cleveland, Nottinghamshire, Jersey, Isle of Man, Avon and Somerset, Gloucestershire, Warwickshire, Devon, Cornwall
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