In addition to conveyancing cyber theft, scams, where criminal groups target empty properties to apply for a loan or mortgage, are once more being brought to the attention of homeowners.
The National Fraud Intelligence Bureau (NFIB) have recently issued a warning, stating that information regarding this kind of scam had come to light. Part of the City of London Police, the Bureau stated that the evidence indicated criminals were identifying empty properties through names in published obituaries and subsequently carrying out searches on Land Registry.
After discovering an eligible property, the group will then arrange for the production of fake documentation, as well as register on the electoral role and utility providers.
Warning of the scheme, the NFIB stated: “The group tirelessly work through the legal hurdles until the funds are released by the organisation, whilst the innocent party has no idea a crime has taken place.”
It highlights four particular scenarios where scammers are able to take advantage:
- Property owners are absent
- Property owners are living abroad
- There are buy-to-let landlords
- Elderly owners who live elsewhere due to long-term care measures
