Western Union Offers Tips to Help Consumers Avoid Becoming Victims
of Property Rental Scams
ENGLEWOOD, Colo.--(BUSINESS WIRE)--
You have scoured hundreds of online classifieds looking for the perfect
apartment rental. After weeks of clicking, one listing catches your
eye—the place is perfect and, most important, the price is right. Before
you put any money down on that great deal just remember: sophisticated
scammers use the Internet, and particularly free classified websites, to
prey on unsuspecting real estate victims.
Rental property scams generally happen in one of two ways:
1. You’re looking for a house or apartment to rent and get scammed by an
2. You’re renting out a house or apartment you own and get scammed by a
How these Scams Play Out
In the first scenario, you’re searching the Net and come across a place
in a great area, at a great price. The advertisement looks legitimate so
you start communicating with the “owner,” generally by email. The owner
says the place is yours if you wire money to cover an application fee,
security deposit, etc. You wire the money, and then never hear from the
“owner” again. How does this happen? Scammers hijack legitimate
listings, change the contact information and then list the modified ads
on another site; or they make up listings for places that aren’t for
rent or don’t even exist.
In the second scenario, a “renter” contacts you expressing interest in
renting your place. You start communicating, also generally by email.
The renter sends you a check for a deposit but then contacts you later
to cancel. You wire the money back only to find out the check was a fake.
How to Protect Yourself
“Whether you’re looking for an apartment or house to rent or rent out
property you own, finding the right place or tenant is challenging,”
, Director of Consumer Protection at Western Union
(NYSE: WU), a leader in global payment services. “Fraudsters use
sophisticated techniques and create very believable stories to lure you
in. However, there usually are one or more red flags that can tip people
off to a possible scam, such as a renter wanting to rent a property
sight unseen or extreme urgency to get a deal done.”
Here are some tips to keep in mind:
If the rental price sounds too good to be true, it probably is.
Research average rental rates for similar properties in the area.
If you’re communicating by email, check for common red flags like poor
grammar, misspellings, character/spacing mistakes, and excessive
Most renters want to see the property before they commit; if they
don’t, chances are you’re dealing with a scammer. Another red flag is
if they have an unusually strong sense of urgency to get you to rent
or rent your property to them very early in communications with them.
Be cautious when dealing with people who say they currently live
overseas or are out of the country on business. Scammers tell victims
this to explain why they can’t meet in person. Be cautious also if
they prefer to communicate via e-mail only.
Don’t send money to anyone you don’t know and trust, especially people
you’ve never met in-person.
Western Union provides a trusted and reliable way for people to send
money to family members and friends. However, it is important to
remember that a money transfer can be paid out to the receiver within a
short time—even minutes—and after the money is paid, consumers cannot
obtain a refund from Western Union, even if the transfer was the result
If you sent a Western Union Money Transfer® and believe you
may be a victim of fraud, call the Western Union Fraud Hotline number at
(800) 448-1492. Information on fraud scams is available on the Consumer
Protection section of Western Union website at: http://www.westernunion.com/stopfraud.
Additional information on money transfer scams is available from the
Federal Trade Commission at: www.ftc.gov
> Consumer Protection > Money Matters > Scam Watch > Money Wiring Scams.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment
services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western
Union Business Solutions branded payment services, Western Union
provides consumers and businesses with fast, reliable and convenient
ways to send and receive money around the world, to send payments and to
purchase money orders. As of March 31, 2012, the Western Union, Vigo and
Orlandi Valuta branded services were offered through a combined network
of approximately 495,000 agent locations in 200 countries and
territories. In 2011, The Western Union Company completed 226 million
consumer-to-consumer transactions worldwide, moving $81 billion of
principal between consumers, and completed 425 million business
payments. For more information, visit www.westernunion.com.
Source: Western Union