Kyiv: How Fraudsters Steal Apartments Through 'Dead' Loans and Corruption

Kyiv: How Fraudsters Steal Apartments Through 'Dead' Loans and Corruption

In Kyiv, fraudulent schemes in the real estate market continue, affecting various segments of the population, including retirees and apartment owners with debts. Investigative journalists have discovered numerous methods of deception, particularly related to dead loans and the properties of deceased individuals, as well as corruption schemes with state authorities.

Among the most vulnerable categories are families who have lost apartments due to loans taken out 10-15 years ago. In 2023, at least 16 families fell victim to such fraud, often leaving people without a roof over their heads. Journalists note that the 'Ukrbud' scam has cost the state over 81 million hryvnias, confirming the scale of the problem.

Additionally, losses from fraudulent operations with payment cards increased by 37% in 2024, reaching 1.1 billion hryvnias. Particularly alarming is the fact that 84% of all losses are caused by social engineering, indicating a high level of manipulation by criminals.

Fraud Schemes and Their Consequences

The scheme of 'dead' loans has become one of the most common. Journalists point out the discrepancy between the date of death and the date of the power of attorney, which exposes corrupt links. As the authors of the investigation state:

'The date of death and the date of the power of attorney - they don't quite match'

. As a result, such manipulations can lead to loss of housing, as evidenced by the phrase:

'Papers may turn out to be stronger than your keys'

.

Hunting down the lonely and deceased is another aspect of these fraud schemes. Criminals often choose their victims among the elderly or those without close relatives, making them more vulnerable to deception. The authors of the investigation emphasize that:

'Here you are, in 2023, returning home from work, and the lock is already different'

.

High-level corruption also facilitates these crimes, as some state authorities may be involved in schemes, allowing fraudsters to act with impunity. In a situation where losing one's home becomes a reality, it is important to know how to protect oneself. Fighting fraud requires awareness and readiness to defend one's rights.

The situation in the real estate market in Kyiv highlights the relevance of the fraud problem, which requires attention not only from law enforcement agencies but also active actions from society. Citizens should be more aware of their rights and protection opportunities, as well as pay attention to potential risks associated with real estate. In the context of increasing economic instability and corruption, it is important to insist on transparency in the activities of state structures to minimize the risks of fraud.