Battling funds and title transfer scams
Reliance on technology is at an all-time high, with many aspects of our lives shifting online over the past few years. This shift, coupled with a volatile real estate market, has provided a hotbed for fraudsters to take advantage of unsuspecting licensees.
One notable area is the increase in title transfer frauds targeting homeowners who live abroad, with fraudsters posing as homeowners or agents of homeowners with power of attorney.
In a world where the idea of a property being sold without the true owner’s knowledge was unimaginable, there seemed to be few consequences to the “check the boxes” approach. Now our world has shifted and the sophistication of modern cyber fraud requires diligence in all client identification steps.
Whether you’re assisting a client with listing and selling their home, or facilitating a money transfer, read more about some key signs to look out for that may indicate fraudulent activity.
Read more here.
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