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_imgHe described Bolivar as“highly mobile” and frequently changes his hideout. Bolivar has a pending arrest warrantfor violation of the Comprehensive Dangerous Drugs Act of 2002. He was chargedalthough he managed to escape from policemen trying to entrap him in a buy-bustoperation at his house in Barangay Guinacas on No. 9, 2016. He ordered his men to validate theinformation. “All reports we have received arebeing validated. If we have zeroed on in his whereabouts we will arrest him,”said Defensor. There have been reports that Bolivaris hiding in a remote barangay in Jaro district. Bolivar was believed to be a minion ofPrevendido and stepped up drug trafficking activities after his boss died in ashootout with policemen. Bolivar, a resident of BarangayGuinacas, Pototan, Iloilo, has been spotted several times in parts of WesternVisayas and Metro Manila but has never been caught. ILOILO City – Western Visayas’ topdrug suspect Ernesto Bolivar was recently spotted in a restaurant here,according to Iloilo City Police Office (ICPO) director Police Colonel MartinDefensor, citing intelligence information. center_img Recently, Police ColonelRoland Vilela, director of the Iloilo Police Provincial Office, offered aP100,000 reward to whoever could give information leading to the successfularrest of Bolivar, 41. Ernesto “Erning” Bolivar He became the prime target of thePolice Regional Office 6 (PRO-6) after the death of drug lord Richard “Buang”Prevendido in September 2017. Sources also said Bolivar has tappedthe services of “new players” in his drug trafficking operation to avoiddetection The provincial government of Iloilo isalso dangling a P500,000 monetary reward. The Bolivar drug group operates mainlyin central and northern Iloilo province and parts of nearby Capiz./PNlast_img read more