Beware of Real Estate Scams! Scammers Are Convincing People to Sell Their Homes

The scheme is particularly dangerous because scammers do not simply ask for money. They create a complex story, successively presenting themselves as representatives of a bank, the National Bank of Moldova, the Police, the SIS or other institutions, and convince people that their money or property is at risk and must be urgently “protected.”

In one case reported by the Police, a 68-year-old man from Chișinău was convinced by people claiming to be National Bank employees to sell two apartments, use his savings and borrow money from relatives. In total, he handed over MDL 2.1 million to the scammers in three installments through a courier.

In another case, a 73-year-old woman from Durlești was deceived over the phone for an entire month by people pretending to be police officers. They convinced her to sell her apartment and hand over a total of EUR 61,000 through a courier, claiming that someone had taken out a loan in her name and that she needed to protect her assets.

And these are far from isolated cases.

How Does the Scam Work?

It usually starts with a phone call. The person is told that there is a problem with their bank account, that someone is trying to steal their money, that a suspicious application or power of attorney has been filed in their name, or that they are allegedly involved in an illegal operation.

The victim is then contacted by several different people, each playing a different role. One claims to be a police officer, another an employee of the National Bank of Moldova, and another a representative of a bank or other institution. The goal is to create the impression that an official investigation or operation is taking place and that the victim must act immediately.

In some cases, people are convinced to withdraw money from their bank accounts, take out loans or even sell their property in order to “protect” their money.

Then the courier appears. Cash is collected from the victim's home or from a location specified by the scammers. Police have also documented cases in which couriers were arrested in the act.

The scheme relies heavily on psychological pressure: the victim is made to believe that they must act immediately to “save” their money, while the scammers instruct them not to tell anyone about what is happening. This is why elderly people who live alone should be especially informed, and children and close relatives should talk to their parents and grandparents in advance about these types of scams.

A major warning sign is the combination of a call in Russian, a person claiming to represent an official institution, urgency, demands for secrecy, and requests for money or actions related to the sale of real estate.

In such a situation, end the conversation immediately and independently verify the information directly with the institution mentioned by the caller. The Police recommend not providing personal or banking information and not handing over money as a result of such calls.

Top 5 Things to Do If You Suspect a Scam

1. Hang up immediately. Do not continue the conversation with someone who is pressuring you and do not follow instructions received over the phone.

2. Do not hand over money or documents. Do not withdraw money, make transfers, give cash to a courier, or send photos of your ID, bank card, property documents or SMS verification codes.

3. Talk to someone you trust. Immediately call your children, a close relative or another trusted person and explain what you were told. Never make a decision about selling your home or withdrawing your savings on your own under pressure from a phone call.

4. Verify the information directly. If the person claims to be from the Police, the National Bank of Moldova, SIS, the State Tax Service or a bank, contact the institution using only its official contact details, not the number provided by the caller. If possible, visit the institution in person.

5. If you have already transferred money or shared personal information, act immediately. Contact your bank and report the incident to the Police by calling 112, keeping phone numbers, messages, conversations and any documents received from the scammers. Do not wait to see what happens.

The golden rule: if someone tells you that you need to sell your apartment, withdraw your money or give it to a courier in order to “protect” your savings, stop - this is a major warning sign of a potential scam.