According to SPF Advisory, rental scams involving the impersonation of registered property agents have seen a significant rise in Singapore. Between January and October 2024, more than 430 such cases were reported, with total losses amounting to at least $2.7 million.

Modus Operandi of Scammers

Extracting the information from CEA Case Study, scammers typically post fake property listings on various advertisement sites and online platforms, impersonating registered property agents by using their credentials, such as CEA registration numbers, business cards, and photos or videos of the property. Victims initiate contact through messaging apps like WhatsApp, where scammers pressure them into making payments to secure the rental property, often before any viewing is arranged.

Also according to the CEA Case Study article, in some instances, scammers have gained unauthorized access to properties, allowing them to conduct viewings and deceive potential tenants into believing the rental offer is legitimate. This tactic increases the credibility of the scam, making it more challenging for victims to detect the fraud.

Preventive Measures

To protect yourself from falling victim to such scams, consider the following steps:

• Verify Agent Credentials: Before engaging with a property agent, verify their identity by searching their name, registration number, or phone number on the Council for Estate Agencies (CEA) Public Register.

   

• Be Cautious with Upfront Payments: While it's common to pay a deposit to secure a rental property, avoid making any payments before viewing the property or signing a tenancy agreement. Scammers may pressure you into paying deposits to secure viewings or reservations; always ensure the legitimacy of the offer before transferring any funds.

   

• Conduct Physical Viewings: Always insist on viewing the property in person before committing to any agreements or payments.

• Verify Landlord's Identity: In direct dealings without an agent, it's reasonable to request proof of property ownership from the landlord. However, due to privacy concerns, landlords may be hesitant to share personal identification details such as NRIC numbers. In such cases, consider verifying ownership through alternative documents or trusted third-party services.

• Be Wary of High-Pressure Tactics: Scammers often use pressure tactics to rush decisions. Take the time to verify information and consider your options carefully.

How We Minimize the Risk of Scams at Propertyvow.com

At Propertyvow.com, we take scam prevention seriously. To enhance security and accountability, in every agent's page, we have provided link to CEA page to verify the agent credentials. We strongly urge users to perform search by phone number in the CEA verification page, to check if the phone number of the agent matches the CEA registration information. For direct owner (seller/landlord) listing, we implemented a mandatory seller and landlord registration process via Singpass Myinfo NDI (National Digital Identity), thus identity of the listing owner is available in our records. These measures help to ensures that individuals listing properties are verified, providing assurance that every listing is posted by a person who is identifiable, in the event that an investigation is required.

By implementing the above, we:

• Facilitate Agents credential check in CEA

• Ensure Accountability: Every listing posted by direct owner is tied to a 'Verified via Singpass' individual, optimizing traceability and security.

• Enhance Trust: Tenants and buyers can engage with confidence, knowing that listed properties come from verified individuals.

This rigorous process helps to maintain a safe and reliable platform, giving users peace of mind when searching for rental or purchase opportunities.

By staying vigilant and leveraging trusted platforms like Propertyvow.com, you can reduce the risk of falling prey to property-related scams.