BECOMING A SCAMMER'S VICTIM. I had sent my money to a thief; Samuel Frank a close pal of mine thought he had found the perfect home for himself and his family. A 3bedroom fully detached duplex in Kunsela, Lagos State. At this time his wife and children lived far away at about 777.1km in Makurdi. The distance began to pose a serious problem for him because he works here in Lagos state where he lived in a small self-contain. He found traveling every week to go see his family so strenuous, so he decided he needed a 4bedroom duplex for his family.
A real estate agent, Peter James who works with the ''Kumarajo Homes'' promised to secure a place for him and his family, knowing fully well he was in search for a rent apartment, without any proper documentation and a necessary key paperwork which includes original sale contract, Homeowners insurance records, offer letter, home inspection report, which none of this was given to him. After speaking to Mr. Peter who is the real estate agent about securing the house, he then assured him by telling him of various client who he helped in securing lands, and various properties all over Nigeria. While conversing Mr. Samuel Frank the supposed homeowner requested for the brief and pictures of the house, which he sent to him immediately
Unknown to him that it was someone else's house that was put up for sale in Kunsela. Shortly Mr. Peter got a transfer of 4.5 million Naira. A call came in from Samuel Frank. “Hello Mr. Peter James, I just sent the money to your account.” He then replied yes well received! Immediately after the call his line became unreachable.
He became dumbfounded and stranded after realizing he was duped by a scammer with a sum of 4.5 million Naira. Real estate fraud is a growing problem which increases daily as cybercriminals and identity thieves continually target both real estate professionals and buyers. The real estate industry is particularly attractive to cybercriminals because of the large amount of money involved in a transaction and because a lot of personal and information is sent between two parties via email. Fraudulent activities using cashier's check and wire transfers of earnest money deposits or down payments are a common scam, costing consumers billions over the past years.
Fraudsters set up fake websites that appear like the title or lending company you’re working with, making it looks like they are truly real and sincere Scammers use spoofing tactics to make phone numbers, websites and email addresses appear familiar. Mr. Samuel who was a victim of fraud made a payment to an account he wasn't sure off, besides the account bears a different name. He wasn't having a front store/company which made it very different to be traced. Before making payment, Mr. Samuel noticed there was so much pressure on him to act immediately, He never saw the need to inspect or speak to current renters.
HOW TO PROTECT YOURSELF:
Before any money is sent to a third party go back to the original document you received. Never click on any mail or link, text or send money online without verifying the instruction you received from your lender and call the phone numbers listed there to verify the wiring instructions you received. Never click on email or text links, or send money online, without verifying the instructions.
Scammers post property rental ads on social media to lure in unsuspecting renters, sometimes using photos from other listings. The scammers, who have no connection to the property or its owner, will ask for upfront payment to get to see the property or hold it as a deposit. They’re just looking to get quick cash through dubious means.
Be wary of anyone who asks for a cash deposit upfront to see a property. Ensure you’re dealing with the real property owner before negotiating rental terms or seeing in person, or even getting to see the property itself. Avoid doing transactions on phone or email. It’s best to be one-on-one to confirm the property ownership, sign any required documentation and make a payment. Use a cheque to make a payment so you have a receipt automatically. Always insist on speaking with the property owner before signing a contract or making a payment if anyone claims to be the owner. If someone claims to be a real estate agent, ask to see their license, and have a full prove of that individual to be an agent. Picture of it so you can confirm the information online through your state’s division of real estate licensing.
At the long run, Mr Sam was down casted and demoralized, then he screeched so loudly. “Hah! My 4.5 million ooo has gone into the hands of a swindler and a fraudster.” His wife and children placed their hands on their heads and stretched their legs on the luggage’s weeping uncontrollably outside the gate, because they were not even given an entrance inside the estate. Mr. Sam yelled vehemently and turned to his wife saying, I SHOULD’NT HAVE DEALT WITH A REALTOR WITHOUT A FRONT STORE.
