BEWARE OF FRAUD LEASE& SALE ADVERTISEMENTS
Just read this in our Treb Daily News Report and thought I should share it. A LOT of my personal clients and friends have experienced this! Please be Cautious! Ask a professional opinion ALWAYS!!
A Member called to report that a person showed up at his client's property for lease. They were looking for "Bruno, the landlord." This fraudulent landlord advertiser was most likely trying to obtain a deposit from the interested renter before they viewed the property for lease and realized that Bruno was not the landlord and was fraudulently advertising the rental unit.
A recurring scenario has fraudsters using legitimate for lease or sale listing information to post false rental listings online. Many of these fraudulent listings may advertise a rental amount lower than what similar units may lease for, they may request that a deposit or first and last month's rent be sent to them via wire transfer before a property may be viewed or to secure the lease, or they might note upfront that due to certain circumstances, no in-person visits, to or inside the property, are possible.
In order to guard against such fraudulent activity, Members may choose to undertake routine Internet searches of their listings. Internet fraud can be reported to local police and to the Canadian Anti-Fraud Call Centre, which is jointly managed by the Ontario Provincial Police (OPP), the Royal Canadian Mounted Police (RCMP), and the Competition Bureau. For more information, visit www.antifraudcentre.ca
FRAUD 'RED FLAG' CHECKLISTS AVAILABLE FOR DOWNLOAD
Real estate fraud is a growing concern in Canada, and has significant ramifications for real estate professionals. TREB’s ‘Slam the Scam’ panel discussion at the 2006 Annual General Meeting addressed some concerns related to fraud and provided some important information as to how Members can protect themselves.
Members are encouraged to make use of the following Red Flag checklists from the AGM course material. They offer advice for recognizing fraudulent or dangerous situations, and may be downloaded or printed for future reference or distribution.
- Marijuana Grow Houses -- Red Flags
- Mortgage Fraud -- Red Flags
- Identity Theft -- Red Flags
- REALTOR® Safety -- Tips
- Money Laundering -- Red Flags
MEMBER REMINDER REGARDING MORTGAGE FRAUD
Please note that if you suspect that a mortgage fraud has been perpetrated by another real estate registrant, you can report this to Brian Prendergast, Manager of Inspections & Investigations at the Real Estate Council of Ontario (416) 207-4818.
Please note that if you suspect that a mortgage fraud has been perpetrated by another real estate registrant, you can report this to Brian Prendergast, Manager of Inspections & Investigations at the Real Estate Council of Ontario (416) 207-4818.
Should you be approached by individuals who want you to engage in mortgage fraud you can report this to the police. The Toronto Police have a Fraud Squad that can be reached at (416) 808 7300. Otherwise, contact the nearest division of your local police force & ask for the department that handles fraud issues.
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STAY IN TOUCH with the Real Estate EXPERT of YOUR AREA! - Ayesha Khalid
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