Providing a Fake Credit Report - ApproveShield

One common scam among professional tenants is to convince the landlord to accept a credit report provided by the tenant (not run independently by the landlord), and to hand over the keys when a lease is signed and a paper check delivered. As soon as the lease agreement is signed and the keys handed over, the tenant now has legal possession of the property. The only way to get them out is to go through the legal eviction process, which takes months. In many jurisdictions, tenants can prolong the eviction process for six to 12 months. Approveshield sources the credit report directly from the credit reporting agency, allowing for an early detection of fraud in the application process.

Using Fraudulent Documents during the Application Process

One of the most common types of tenant scams is the creation of fraudulent documents that form part of the rental application. Landlords need to know that it is important to verify the details that tenants provide in their employment letter and reference letters. There are professional scammers who employ this method in order to get into a property, and shortly thereafter their checks begin to bounce. Being duped into this scam can cost landlords a few months’ rent while they apply to a tribunal to have the tenancy terminated and the tenant evicted. Approveshield combines the power of Machine Learning with the experienced Research Analysts to create a defense mechanism against the ever increasing number of applications that are backed with fraudulent documents.