Young people aged between 18 and 39 account for nearly three-quarters of rental fraud cases, according to new data from the National Fraud Intelligence Bureau (NFIB) released by the Home Office. Fraudsters are exploiting desperate renters by advertising properties that do not exist or do not belong to them, often demanding upfront payments for deposits or first month’s rent.
The NFIB data shows rental fraud cost victims nearly £9m last year across around 5,000 reported cases. The 18 to 29 age group accounted for 48% of cases, while those aged 30 to 39 made up a further 25%. With students and young professionals actively searching for accommodation in the spring, ministers are urging renters to avoid rushing into payments without verifying the property in person.
Fraud minister Lord Hanson said: “Rental fraud is an utterly shameful crime, and this new data should serve as a stark reminder that anyone can be a victim. It doesn’t matter how streetwise and tech-savvy you are, fraudsters will get to anyone who doesn’t stop and think before handing over their money. That’s why I am determined to root out fraud from our society, crack down on the callous criminals behind it, and ensure that stronger protections are put in place by the tech companies on whose platforms much of this fraud takes place. The Home Office will be making progress on all of those issues through the next phase of our Stop! Think Fraud campaign, and the new, expanded fraud strategy we are developing this year as part of this Government’s Plan for Change.”
The government is also pressuring social media and property listing platforms to do more to tackle fraudulent property advertisements.
Oliver Shaw, commander for fraud and cybercrime at City of London Police, said: “Young people are disproportionally targeted by criminals whilst they look for new accommodation or housing opportunities. This can result not only in a devastating financial loss but can also lead to a negative impact on their mental health. The data from the National Fraud Intelligence Bureau highlights clearly how much of a critical issue this is in affecting 18 to 29-year-olds. That’s why we, as the national lead force for fraud, continue to support the Stop! Think Fraud campaign’s ongoing efforts to raise awareness of this vital issue. And we continue to work to highlight emerging cybercrime and fraud types that could be a threat, understanding the importance of reporting, and advocating ways the public can prevent themselves from becoming victims of fraud.”
The figures coincide with the National Cyber Security Centre (NCSC) launching the next phase of its campaign encouraging individuals and small businesses to enable two-step verification (2SV) on their most important accounts.
NCSC chief operating officer Felicity Oswald said: “Online fraudsters are constantly finding new ways to trick you into sharing personal information or money, but thankfully, there are ways to protect yourself. Today, we’re launching a nationwide campaign urging everyone to strengthen their security by enabling 2SV, which adds an extra layer of protection to keep your accounts safe. Toughen up your online security by enabling 2SV today—usually found in the security settings of your accounts—and keep the fraudsters out.”
