Business crime

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• Action Fraud

What is property fraud?

Property is usually the most valuable asset people own. It can be sold and mortgaged to raise money and can therefore be an attractive target for fraudsters. The type of frauds we usually see are where fraudsters first steal your identity  and then sell or mortgage your property by pretending to be you. If it isn’t discovered promptly, you as the true property owner might find your property has been transferred or sold without your knowledge. Fixing the mess and getting any mortgage taken off your register can be distressing, time-consuming and costly.

How common is it?

Thankfully this type of property fraud is quite rare, but if you are the unlucky victim, it can have devastating effects. That is why prevention is much better than cure.

What can people do to protect themselves?

There are a few options:

• Ensure your property is registered. If you become an innocent victim of fraud and suffer a financial loss as a consequence, you may be compensated. If your property isn’t registered then no compensation is payable. Find out about registering land
• Once registered, make sure your contact details are up-to-date so you can be reached easily. You can have up to three addresses on the register including an email address or an address abroad. If your details are not up to date, you may not receive Land Registry's letter or email if they try to contact you
• Sign up for Land Registry’s award-winning free Property Alert service that helps owners to guard against property fraud. They will send you an email alert when there is certain activity on the monitored property e.g. if someone tries to take out a mortgage on it. If you receive an alert, you can judge whether the activity is suspicious and seek further advice - gov.uk/property-alert
• Owners who feel their property might be at risk can have a restriction entered on their property. A restriction is intended to stop activity on your property, such as a transfer or a mortgage, unless a conveyancer or solicitor confirms the application was made by you. There is no fee for home owners to register this restriction as long as they do not live in the property they wish to protect. Request a restriction

Who is most at risk from property fraud?

You’re more at risk if your property:

• is rented out
• is empty, such as if the owner is abroad or in a care home
• is mortgage-free
• isn’t registered with Land Registry

If you think you may be the victim of property fraud, you should:

• Contact the property fraud line on 0300 006 7030 (Monday to Friday, 8.30am to 5pm) or email [email protected]
• Contact a legal professional such as a solicitor or Citizens Advice and Action Fraud (actionfraud.police.uk)

For more information: www.gov.uk/propertyfraud

Here are some tips you can take to prevent theft by staff:

• install CCTV in your store and staff car parks
• rotate staff who control your business stock
• restrict access to as stock rooms
• screen all employees before hiring them and tell them about the cost of theft to your business.

Watch out for warning signs e.g. employees who:

• are living beyond their means
• seem troubled
• violate company policies
• are chronic liars.

Loyal and vigilant staff are one of your biggest weapons in the fight against crime and you should train employees on what to look for and how to respond to a shoplifting situation. 

Examples of suspicious shoplifting behaviour include:

• people working in groups who distract shop floor staff
• someone who chooses purchases quickly
• people who split up their purchases and use different bank cards to pay
• someone who tries to speed up a transaction.