Two Canadian homeowners recently faced their worst nightmares after scammers managed to obtain the titles to their properties and use fake IDs and forged signatures to steal the ownership.

The brazen home title fraud, although occuring in Ontario, has sparked the Better Business Bureau serving mainland B.C. to issue a warning of caution to local residents.

含羞草研究社淭itle fraud has been a threat to the Canadian real estate industry and is a potential risk for every property,含羞草研究社� says president and CEO Simone Lis.

含羞草研究社淭he best thing you can do is take proper precautions to avoid falling into this scam, and know what to do if it happens to you.含羞草研究社�

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The Better Business Bureau has offered up five tips to avoid becoming a victim:

1. Consider purchasing title insurance, which can act as the 含羞草研究社渙nly saving grace含羞草研究社� if fraudstrers strike, the BBB said. Because the fraudulent title is not legally binding, the new buyer can含羞草研究社檛 resell the propery and recoup their funds. Meanwhile, insurance companies will often investigate the suspected fraud and help the homeowner find a lawyer.

2. Safeguarding personal information 含羞草研究社� including shredding documents with personal information such as bank account numbers 含羞草研究社� is important, BBB says. It含羞草研究社檚 also wise to be suspicious of unprompted calls asking for personal information. Driver含羞草研究社檚 licences should be kept safe and protected.

3. It含羞草研究社檚 advised to check credit reports regularly to spot unauthorized inquiries.

4. Reviewing bank account activity should also include credit cards, BBB says. Sometimes, scammers will change the addresses associated with a bank account. If bills don含羞草研究社檛 arrive on time, or at all, its advised to call creditor含羞草研究社檚 for follow-up. Another red flag is debt collectors contacting you about debts that are not yours.

5. If it含羞草研究社檚 believed a scammer has used someone含羞草研究社檚 identity, place a 含羞草研究社渇reeze含羞草研究社� on the credit card and bank accounts immediately, and report to subsequent fraud departments.

sam.duerksen@blackpress.ca
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