Title and mortgage fraud typically involve homes with low or no mortgages. Con artists impersonate the homeowner and sell the property quickly
Insurance investigator Brian King, president and CEO of King International Advisory Group, said his firm had received 30 such claims in Ontario.Start your day with a roundup of B.C.-focused news and opinion delivered straight to your inbox at 7 a.m., Monday to Friday.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
He said his firm was handling six claims of total title fraud, with several coming forward after recent media coverage of the fraud technique.Article content The B.C. Land Title and Survey Authority said in a March 2021 notice that it was aware of two cases involving property managers being tricked into taking instructions from fraudsters impersonating owners who lived abroad.Article content“Both properties were listed for sale by realtors who accepted a scanned copy of a forged passport to verify the identity of the supposed owner,” the notice said.
But it was rented by fraudsters who moved in, impersonated the owners, and sold it for $1.7 million within two weeks. Daniela De Tommaso, president of First Canadian Title Company Limited, said the firm had seen a “definite rise” in title fraud.
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