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Our insurance scheme means you paid to join mydeposits
and also pay a protection fee that lets you hold the deposit
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What is Custodial?

Our custodial scheme means that you joined mydeposits
for free and transfer the deposit money to us to hold.

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July 22

2014
by mydeposits
mydeposits prevent £300K deposit fraud case

my|deposits, the leading TDP scheme has called on enforcement agencies to work more closely with TDP schemes in order to crack down on rogue activity from fraudulent landlords and letting agents.

The call comes after the scheme helped prevent over £300k worth of tenancy deposits being fraudulently stolen, working closely with enforcement agencies to bring the case to light.

Eddie Hooker, CEO, said that if it wasn’t for my|deposits the case in question might not have been brought to justice:

“It was down to the information, hard work and doggedness by my|deposits that brought these people to justice.

“We do a lot of work behind the scenes to catch rogue landlords and fraudulent letting agents but often we’re made out to be the bad guys.

“Over recent years we have developed a very comprehensive and effective approach to identifying members who try to bend the rules. We work closely with Police and Trading Standard’s Officers in England and Wales as they seek to understand how the different TDP schemes operate and then obtain sufficient evidence against ‘rogue’ businesses.

“We caught this case early due to our robust auditing and compliance processes and immediately alerted the police and enforcement agencies. We had to keep pushing the case as initially no one was interested in taking it forward. However, due to our actions no one lost out and all the money was returned

“mydeposits will continue to work and help those who want to abide by the law and catch those who would otherwise still be ‘free’ were it not for the support that we have provided to law enforcement agencies.”

This case comes after my|deposits forwarded on evidence to Milton Keynes Trading Standards last year which helped convict a letting agent to an 11 month jail sentence after admitting 25 counts of fraud involving landlords and tenants.

There are over a dozen other cases still underway pending prosecution where my|deposits are providing support and assistance.

-ENDS-

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