How TIQI is Putting an End to Fraud in Construction: Say Goodbye To Rogue Traders

The construction sector is notorious for its viral scams and rogue traders. Many have felt the sting of fraud, shoddy workmanship, and financial loss, with the effects being both financially and emotionally draining. Unfortunately, Rogue traders often target the elderly and vulnerable, with individuals over 55 losing an average of nearly £1,100.

The Extent of the Problem: Scams in Construction

The consequences of rogue traders in the construction industry are wide-reaching and can be significantly detrimental. The issues go beyond the financial toll, like the emotional distress and a mistrust between consumers and tradespeople. In 2021, the UK experienced a shocking 5,228 reported cases of rogue traders, which culminated in a total financial loss of £25.8 million. This figure is not just a statistic; it represents the financial hardship by innocent victims who wanted to improve their homes.

One particular case was when a rogue trader was mandated by the court to pay over £7,000 in compensation and court fees after overcharging a customer for work that was shoddily done. The victim had to deal with not only the financial loss but also the hassle of legal proceedings.

Moreover, the data suggests that the problem is persistent and possibly growing. The elderly and vulnerable are often the targets, facing an average loss of nearly £1,100 when they fall prey to these individuals. The lack of regulation contributes to a thriving environment for fraudulent activities.

TIQI’s Solution: Construction Payment Software

Amongst this concerning landscape, TIQI emerges as a great solution. Through our innovative online payment system, we are tackling rogue traders head-on, ensuring that payments are only made for work completed to the client’s satisfaction. Our platform acts as a secure intermediary, holding the funds in a ‘Holding Account’ until the job is executed to the agreed standards. This not only dissuades dishonest traders but also provides a sense of security and trust between consumers and tradespersons.

We are not standing alone in this fight against fraud. TIQI has garnered partnerships, certifications, and endorsements that prove our commitment and effectiveness in the fight against fraudulent practices in the construction sector.

Customer Education and Prevention

While technology provides a robust solution, consumer education is equally critical in combating fraud. Knowledgeable consumers are less likely to fall victim to rogue traders. Following guidelines from reputable sources, ensuring thorough vetting of tradespersons, and reporting suspected rogue traders to authorities are all steps in the right direction.

At TIQI we advocate for a well-informed consumer base and encourage our users to report any suspicious activities, contributing to a safer construction industry.

To Summarise Battling Fraud in Construction

TIQI’s impact is more than just a technological solution; it’s a stride towards restoring trust and integrity in the construction sector. Combining our platform and consumer education paves the way for a fraud-free construction industry.

We invite you to explore the benefits of TIQI, report unscrupulous traders, and share the knowledge about rogue trader dangers. With TIQI, you are not just getting a secure payment platform; you are joining a community devoted to starting a new era of transparency and security in construction. Your support is crucial in turning the tides against rogue traders.

Discover TIQI today, and let’s bid farewell to rogue traders together.

Rich Jones,