Scammers impersonating property agents continue to exploit social media platforms, leading to significant financial losses.
As of November 2024, more than $2.7 million has been lost to property rental scams in Singapore, with over 430 reported cases from January to October 2024. These scams typically involve criminals posing as property agents, often using social media platforms like Facebook to advertise fake rental listings.
Victims, seeking rental properties, would contact the scammers who had posted contact numbers on these listings. To appear legitimate, the scammers would provide photos of property agent passes, business cards, or videos of the rental properties. Some even used accomplices to pose as colleagues or assistants during property viewings, claiming that the agent could not attend.
Once the scammer gained the victim’s trust, they would ask for personal details and payments for deposits or rent via bank transfers or PayNow. The fraud was discovered when the scammers ceased communication or when victims contacted legitimate property agents.
Authorities have urged the public to verify property agents’ identities through the Council for Estate Agencies (CEA) Public Register and to ensure that payments are made directly to the landlord via cheques or bank transfers, rather than through unsecured methods.
