Young people aged between 18 and 39 account for almost three quarters of cases of rental fraud, National Fraud Intelligence Bureau (NFIB) data released by the Home Office reveals.
NFIB data shows that fraud losses amounted to nearly £9m across around 5,000 reported cases last year.
The 18 to 29 age group accounted for 48% of all reported rental fraud cases in England, Wales, and Northern Ireland last year, with the 30 to 39 age group accounting for 25%.
Home Office ministers urge renters to avoid rushing into a quick decision or paying over any money for a property before they have viewed it in person.
The government has also called on technology companies to go further and faster to tackle fraud on their platforms as a lot of fraud is taking place through properties advertised on social media websites.
This call comes ahead of convening the next Joint Fraud Taskforce meeting later this month.
The new figures are published as the National Cyber Security Centre (NCSC) launches the second phase of a nationwide campaign encouraging individuals and small businesses to set-up 2-step verification (2SV) on their most important accounts.
2SV adds an extra layer of security, making it much harder for attackers to access your accounts even if your password is compromised.
Fraud minister Lord Hanson says: “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.”
City of London Police commander for fraud and cybercrime Oliver Shaw adds: “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.”
NSCS chief operating officer Felicity Oslwald comments: ”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.”
