DUBAI, UAE, May 14, 2012 /PRNewswire/ --
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Tips to Help Consumers Avoid Becoming Victims of Property Rental Scams
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:
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," said Shelley Bernhardt, 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:
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 of fraud.
Information on fraud scams is available on the Consumer Protection section of Western Union website at: http://www.westernunion.com/stopfraud.
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 http://www.westernunion.com.
Director - Corporate Communications - Middle East
Western Union Financial Services
SOURCE Western Union