This new industry, some of it based around the City of London, is exposed in the ITV series Fraud Squad, which is returning for a second season.
The stories of victims groomed to hand over their savings to fund property scams in the UK are both disturbing and heartrending.
“The criminals are basically buying worthless agricultural land and selling it to the public, all on the basis that it’s a great investment, but the fact is that there will be no development and it’s all a big con,” says DCI Perry Stokes from City of London Police, which is tackling the scams.