An image of houses and money burning

New Identity Fraud Tactic by Nigerian Scammers

Remember the infamous Nigerian property scams of 2010 and 2011? In two separate cases of identity fraud, two homes were sold by overseas sellers posing as the owners. The enormity of the scam – which involved providing fake identification and requesting the proceeds be transferred to a Chinese bank account – and the extent of …


A map showing the difference between Edinburgh and London

How overseas sellers are impacted by identity checks

A fiasco during a recent settlement has revealed some major considerations for dealing with new identity checks. Since the infamous Nigerian property scams in 2010 and 2011, extra measures to check the identity of sellers have been put in place by Landgate – including the requirement to present 100 points of identification (update: As of …


Builders looking at plans

Stop blaming the market and start creating sales right now

When sales are slow it’s easy to blame the market. Interest rates, discounters, government regulations. Once they’ve been sorted out the market will be ok. The HIA wants to blame the market. So does Gerry Harvey and his big retailer friends. Faced with sluggish sales they place their industries woes squarely at the feet of …


Destroy utility bills before disposing of them

75% of Australians Putting Themselves at Risk of Identity Fraud

As the Perth Nigerian house scam demonstrates the best defence against identity is constant vigilance. But it seems Australians aren’t getting the message. In a recent Newspoll survey an alarming 75% of Australians regularly throw away highly sensitive information without shredding or disposing of them safely. These include utility bills, bank statements, expired credit cards …


5 government agencies launch scam investigation

Intensive joint investigation into real estate scams

Five government agencies have launched a joint investigation into recent real estate scams to determine if extra protections are necessary to prevent identity theft in the buying and selling of property and the land titles system in Western Australia. The Commercial Crime Division of WA Police, Consumer Protection, Landgate, the Real Estate and Business Agents Supervisory Board (REBA) …


Scam Alert

SASB Issue Updated Property Scam Warning

This updated advisory has just come through from the Settlement Agents’ Supervisory Board and is a timely warning for both real estate and settlement agents. Recent events have prompted a further scam alert being issued by the Chairwoman of the Settlement Agents Supervisory Board (the Board), Ms Mirina Muir. Ms Muir advised that following on from …


Finger print

Property scam highlights the importance of identifying clients

Knowing your client has taken on a new meaning in the wake of a recent scam where a Perth investor had his property sold without his knowledge. Now, more than ever, it’s essential for both real estate and settlement agents to carefully identify their clients. Agents should, where possible, meet their clients personally. A 100-point …


Beware the Nigerian real estate scam

Nigerian real estate scam highlights the need for increased vigilance

The recent case of a man losing his house as a result of a Nigerian real estate scam highlights the need for increased vigilance by everyone involved in real estate transactions. Although it’s the first time such a crime has been committed in Australia, it’s by no means the first fraud involving a forged property …


Residential Settlements

Top tips to take ‘stress’ out of ‘mortgage’

AAP It is estimated that around 469,000 households will be suffering mortgage discomfort by December and the number of those in severe stress (facing a potential sale, foreclosure or forced refinance) could be as high as 267,000. How can at-risk borrowers stay out of trouble, save money and own their property sooner? Spokesperson for Mortgage …