Toronto lawyer shares close encounter with alleged fraudsters in title fraud scam | 24CA News
It was Jan, 12, 2023 when Toronto lawyer Niroosan Vivekanantharajah says he was contacted by a potential consumer who discovered him on Google.
They had been seeking to finalize the sale of their residence. On the floor, it seemed to be a normal transaction, nevertheless it turned out to be something however.
“They were perfect clients. They were,” he recalled in an interview with Global News. “Very good communication…Got the documents, no delays. Signing happened on time.”
The sale ultimately went by means of, however a couple of days later, Vivekanantharajah acquired a name from the financial institution.
His shoppers had been seeking to withdraw the proceeds from the sale.
He says an worker of the financial institution flagged his consumer’s identification as a possible pretend.
Read extra:
How thieves stole a Toronto condominium in ‘total title fraud’, promoting it for $970,000
That wasn’t all.
“She told us, just so you know, this is a very new account,” he stated. “This is so new that you’re the only transaction.”
Rather than give the financial institution the go-ahead to launch the funds, he had his affiliate instruct them to freeze the account.
Vivekanantharajah went to the Scarborough residence the neighbourhood was situated in and started asking questions.
He says at first look, the mailbox was overflowing. The glass display door was locked.
He spoke to plenty of residents, however was unable to get any substantial data from them. Then one other neighbour observed him by means of her doorbell digital camera.
They began to talk by means of the gadget and Vivekanantharajah left her his business card.
When she referred to as, he revealed that he had bought her neighbour’s residence.
“She’s like ‘Oh no, no. What do you mean you’re selling this house?’ My neighbours are in China,” he recalled.
She additionally revealed she had a set of keys to the home.
He contacted the financial institution, which then contacted the police.
On Jan. 27, Toronto police confirmed the arrests of three individuals who had been arrested and charged in connection to a title fraud investigation.
Toronto Metropolitan University professor Murtaza Haider says with a purpose to provide you with convincing fabricated IDs, fraudsters first want entry to a person’s private data.
“Let’s say they get ahold of a driver’s licence renewal, email, or some mail from Canada Revenue Agency,” he advised Global News.
To assist safeguard your identification and your property, he recommends buying mail forwarding and lengthening that service past a yr.
He additionally recommends looking out your handle on Google now and again in case you are leasing your property, to make sure it isn’t being included in any lively listings.
Read extra:
Toronto owners who had been out of city uncover their property was fraudulently bought: police
Title insurance coverage is one other methodology of safety. Though not foolproof, it will possibly protect owners from a few of the penalties of a title fraud rip-off.
“It’s happening at an alarming pace to the extent that this shouldn’t even happen at all,” stated Daniela DeTommaso, president of FCT Insurance.
“We’ve seen a doubling year-over-year.”
When requested a couple of want for change to trade checks and balances, DeTommaso stated they want to see larger entry to identification verification instruments, and extra stringent penalties for many who commit title fraud scams.
“No one wants this to happen, so I think we have a responsibility to provide better tools and ultimately, to protect innocent homeowners,” she added.
© 2023 Global News, a division of Corus Entertainment Inc.
