Credas recently surveyed professionals within the Property sector and 70% of them reported a rise in fraud within the past 12 months.
The study of 250 UK-based real estate workers highlights a growing reliance on technology to fight back against fraudsters attempting to target the property sector. Our findings, as seen in the press, state that nearly two-thirds (65%) of real estate companies now detect fraud through digital or automated methods, signalling a strong shift towards tech-led defences.
Over half (52%) of respondents reported encountering fraudulent identity documents, with fraud cited as the most pressing concern in ID verification (34%), followed by customer experience (24%) and operational inefficiency (20%).
Fraud is only going to get worse, especially with the latest round of AI tools that are easily accessible , but the good news is that technology is not just keeping pace, it’s gaining ground. Digital ID verification is proving to be one of the most effective tools in detecting and preventing fraud, while also improving the experience for legitimate customers. The future of fraud prevention is automated, intelligent, and proactive.
However, the report also reveals a troubling gap in response. While fraud is on the rise, 56% of real estate professionals rarely or never escalate cases to the authorities, suggesting a potential weakness in the broader fraud response ecosystem.
As fraudsters grow more sophisticated, the message is clear, the real estate industry must adopt more advanced techniques to stay ahead of the curve or put their business at risk.
How we are fighting back against fraud
We work hard to fight against fraud, always striving to improve our services so our clients get the best out of our system.
Here’s how some of most recent product releases are helping to fight fraud:
- Our brand-new Director ID verification check including NFC chip and biometrics, is designed in-line with the changing regulations from Companies House to help prevent fraud
- Released our KYB-2-KYC service, to help businesses cut through the often complex company structures built to disguise the true owners
- Integrated Amberhill Police Data checks into our biometrics checks to help highlight possible misuse of stolen or lost documents
Fraudsters may move fast, but we always try to stay a step ahead.
