Law Association concerned about increase in property fraud

The Law Association says it is concerned with the increasing prevalence of identity theft and the use of fraudulent documents in land transactions.

What’s more, it says the level of sophistication being used by fraudsters can even escape the scrutiny of trained and experienced real estate agents, attorneys-at-law and officials at financial institutions.

It is now urging those involved in the buying and selling of property to be vigilant and use all reasonable efforts to find out the true identity of sellers, mortgagers and their agents.

Owners are also being advised to take steps to protect their identity and property, especially if they do not live on the said property or live abroad.

One such measure would be to not share also personal information or identification documentation to any person other than a real estate agent registered with the Financial Intelligence Unit, an attorney-at-law or authorized officials at financial institutions.

 

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