How to avoid becoming a victim of fraud if you’re a first-time homebuyer as scam rates soar

New homeowners have been warned against becoming victims of fraud, after new research found they are being increasingly targeted by crooks who steal personal details .

Credit report agency Experian says it has seen a 35 per cent rise in the number of young first-time buyers becoming fraud victims in the first six months of 2019, compared to the same period in 2019. Card fraud against this group of people is also up by a staggering 91 pc.

Experian believes that the reason behind the sharp increase could be down to lack of mailbox security – meaning fraudsters are able to access the post of innocent victims.

Once fraudsters have the details they need to take credit out in your name, they’re able to try and intercept all post, including credit or debit cards once they’re sent out – all without your knowledge. This allows crooks to take out and spend money in your name for long periods of time, completely carefree.

Properties with shared mailboxes – both privately owned and rented – are most vulnerable when it comes to being targeted.

First-time buyers aged 25-34 are most at risk, as they are most likely to live in properties with communal postrooms, according to Experian.

To tackle this, people living in properties where post has the potential of being exposed to scammers are advised to install extra security measures such as combination locks.

Post going to old addressees can also cause issues, leaving innocent parties unable to control whose hands it ends up in. That said, once you have moved into a new address it’s important to get all mail redirected immediately. This can be done using the Royal Mail’s redirection service.

Speaking about the findings, Experian’s Director of Fraud and Identity, Nick Mothershaw, said: “While we are uncovering a new incident every 15 seconds, fraudsters continue to find new ways of separating people and organisations from their money.

“It is critical people think about where their post is stored and are aware of how data breaches can affect them.”