SINGAPORE: A surge in e-commerce rental scams has resulted in more than $2.7 million in losses since January, with scammers posing as legitimate property agents.
, from January to October 2024, there were over 430 reported cases of fraud where scammers impersonated agents registered with the Council for Estate Agencies .Victims often came across rental listings on social media or property advertisement websites, where scammers posted contact details.
Pretending to be authorized agents, the fraudsters would back up their claims with photos of agent passes, business cards, or even videos of rental properties.In some instances, these scammers went a step further by recruiting accomplices to pose as colleagues or assistants during property viewings, claiming the agent was unavailable.
After building trust, they would collect personal information for tenancy agreements and demand payments for deposits or rent via bank transfers or PayNow.It was only after the scammers disappeared, often ceasing all communication, that victims realized they had been duped. Many were left in the dark until they contacted a real estate professional, who revealed the fraud.: Scammers promote high-end properties at shockingly low rents to attract potential tenants.
For added safety, payments for deposits and rent should be made directly to the landlord via bank transfer or cheque rather than to agents.