Sep 29, 2023

Two students lost around Rs 13 lakh in a home rental scam, here is what happened Two students lost around Rs 13 lakh in a home rental scam, here is what happened In a distressing incident, a 22-year-old student, Eason Lee, and his friend fell victim to a sophisticated rental scam in London, losing more than £13,000 in the process. Representative image created using AI SUMMARY The victims lost around Rs 13 lakh in the latest scam. The scammers managed to trick students by using a genuine agency name and other details. In a distressing incident, a 22-year-old student, Eason Lee, and his friend fell victim to a sophisticated rental scam in London, losing more than £13,000 in the process. This is around Rs 13 lakh in India when converted. This alarming case sheds light on the growing issue of rental fraud in the UK, with reported cases surging by 23 per cent from 2021 to 2022, according to data from Action Fraud. Desperate to secure accommodation in London, Lee found himself in fierce competition with other renters. He stumbled upon a seemingly legitimate listing for a two-bedroom flat in Stratford, east London, on OpenRent, unaware that it was a trap. The scammers operated under a legitimate agency's name and organised a list of properties for them to check. To gain access to the flat that they liked, the victim had booked it through Booking.com, leaving Lee and others unsuspecting. Lee and his friend, after viewing the property, received what appeared to be a genuine contract and invoice. They even cross-verified the landlord's information on the Land Registry. However, the scammers had cunningly used the property owner's real name and a legitimate real estate agency's registration number to deceive them, according to a report by BBC. As they lacked guarantors, Lee and his friend found themselves obligated to make a substantial upfront payment of six months' rent, coupled with a deposit equivalent to five weeks' rent. However, shortly after transferring these funds, an alarming email from OpenRent raised red flags, plunging them into a state of panic. Despite numerous attempts to contact the agent, their efforts were fruitless, and no one appeared to provide them with the keys to the property. It was during this frustrating period that Lee crossed paths with other victims who had fallen prey to similar deceptive schemes. Recognizing the severity of the situation, Lee promptly reported the scam to OpenRent, their bank, and, eventually, to Action Fraud, the authority responsible for handling fraud and cybercrime reports. Action Fraud, in response, informed Lee that their case would undergo a comprehensive 28-day review, with the possibility of it being subsequently transferred to the Metropolitan Police for a thorough investigation. A lot of different types of scams are on the rise in several countries and so users should be extra careful. It is always better to get the legal paperwork done before paying any amount. Indians are also advised to be careful if they are visiting abroad as it will be easier for scammers to target those who are new to a country and don't know much about how to get started with rental homes. Though, such scams could also happen in India. Published on: Sep 29, 2023, 7:49 PM IST Posted by: BT Siteadmin, Sep 29, 2023, 7:47 PM IST