first_imgA sharp increase in the use of online rental applications since the start of the coronavirus pandemic has caused a consequent jump in red flags for fraud. The percentage of so-called fraud triggers detected by TransUnion increased nearly 30% from March to August, according to the credit reporting agency. TransUnion defines fraud triggers as applicant statuses with failed authentication and/or identified as high risk. They reached a high of 15.2% in August, compared with 10.3% over the same period last year.- Advertisement – – Advertisement –  “What Covid has done is accelerated the rental industry’s adoption of technologies in the digital environment to become contactless,” said Maitri Johnson, vice president of TransUnion’s tenant and employment business. “As this acceleration into the digital environment has occurred, it also has opened up the prevalence of fraud much more so.” As a result, the multifamily rental industry is now at higher risk. Since the pandemic began, the frequency of actual fraud incidents has jumped by nearly 50%, according to TransUnion’s survey of 82 multifamily executives. Another quarter saw up to 100 instances of fraud in their portfolios in the past year. While many were able to flag fraudsters before they moved in, 41% said they missed it, and the applicant moved in. These fraud cases are largely about faking the identity of the tenant. They include using someone else’s driver’s license, stealing someone else’s Social Security number from the dark web or inventing a new identity entirely, known as synthetic fraud.- Advertisement – Sign advertising apartments for rent in the Upper East Side in New York City.Adam Jeffery | CNBCcenter_img – Advertisement –  Synthetic fraud involves building a credit profile for a person who doesn’t exist and then using that profile to open credit cards to buy merchandise. The rental home then becomes a part of the crime. “Taking this fictitious persona, applying for apartment home, it all checks out, and they get access to an apartment home, and they eventually use it as a drop zone for all their spend. Then they will skip out in the middle of the night,” Johnson said. It all leaves the landlord holding the bag. Two in 3 executives told TransUnion they were concerned about fraud growth within their communities. With thousands of valid tenants now behind on their rent because of the pandemic, this only adds to the burdens of property management companies and adds to the losses of property owners.“If you’re trying to evict someone, but that someone doesn’t exist, how do you do that?” Johnson said.last_img read more


first_img Carter also served as president of the Football League and a vice-president of the Football Association but it is as chairman of Everton throughout the 1980s that he will be remembered. Under his stewardship, the club won two league titles, an FA Cup and the European Cup Winners’ Cup, which is still the Toffees’ only piece of continental silverware. “Everton Football Club is deeply saddened to announce that Sir Philip Carter has passed away,” read an Everton statement. “Sir Philip died peacefully at home on Thursday morning after a short illness. “He served Everton with immense distinction over three spells. “At this time it would be appreciated if everyone can please respect the family’s wish for privacy.” Carter became a director at Goodison Park in 1973 and assumed the role of chairman five years later with Gordon Lee as manager. But the appointment of former player Howard Kendall as manager in 1981 and the subsequent backing of his boss despite calls from some quarters for him to go, would prove his shrewdest decision. The Toffees won the FA Cup in 1984, the first of three consecutive final appearances, while also reaching the League Cup final. The following year, Everton would win the First Division and the Cup Winners’ Cup, finishing second in the league the next season before being champions of England again in 1987. Former Everton chairman Sir Philip Carter has died aged 87, the club have announced. Carter’s first spell as chairman ended with Peter Johnson’s takeover of the club but he returned to his position under Bill Kenwright and would remain chairman until 2004 when he was replaced by Kenwright and appointed life president. Carter returned for a final spell on the board in 2008. “Words cannot describe my feelings of loss primarily as a friend but also as an Evertonian,” said Kenwright. “Sir Philip was simply a giant…a great man, a great leader and the very best friend and colleague anyone could ask for. I never once met him without calling him chairman. I never will. “That title was his by right. He will always have a major place in our great club’s history. “To his wondrous Lady Rita and his family we send the deepest of condolences together with our undying love and gratitude for his life.” Press Associationlast_img read more