Title fraud is on the rise in Canada. In 2020, FCT identified and worked to prevent $96 million in suspicious residential transactions. In 2021, it was $231.9 million, and by 2022, it was $350 million. What’s being done about it?
Join us for an informative conversation between Daniela DeTommaso, President of FCT and Adkin Holder, detective with the Financial Crimes division of the Toronto Police Service (TPS). John Tracy, senior legal counsel, Claims at FCT moderates.
These industry experts come together to examine the issue of rising title fraud. They discuss the different types of fraud affecting homebuyers and homeowners, the role identity theft plays in title fraud, as well as what consumers can do to protect themselves.
Note: this panel discusses the use of title insurance as the best protection against fraud. Title insurance is normally purchased during the homebuying process, but is still available at any time afterward. Learn more about title fraud protection for existing homeowners.
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Daniela DeTommaso is the president of FCT, the leading title insurance company in Canada. She’s responsible for overseeing all lines of business, with a network of over 1,000 employees. Daniela has been with FCT for over 25 years, and is focused on building long-term partnerships with her customers by ensuring that they are at the center of every FCT transaction.
Adkin Holder is a Detective with the TPS Financial Crime—Major Fraud section where he primarily investigates mortgage frauds. He’s attended courses at the Canadian Police College on mortgage and investment frauds as well as forensic interviewing. Adkin has provided mortgage fraud investigation training to police officers, mortgage brokers/agents, lawyers, title insurance and bank employees.
John Tracy is the senior legal counsel for FCT, where he’s responsible for handling title insurance claims, with a keen focus on fraud. John was called to the Ontario Bar in 1993 after attending McGill and Queen’s Universities, and has been with FCT since 2004. He’s a leader of FCT’s fraud prevention efforts, and a sought-after seminar speaker on the topic.
Insurance by FCT Insurance Company Ltd. Services by First Canadian Title Company Limited. The services company does not provide insurance products. This material is intended to provide general information only. For specific coverage and exclusions, refer to the applicable policy. Copies are available upon request. Some products/services may vary by province. Prices and products/services offered are subject to change without notice.
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