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Fraud Insights Centre

Each year, Fraud Prevention Month aims to spread awareness around different types of fraud affecting businesses and consumers, and to help individuals better identify and prevent fraud before it happens.

The theme for this year is “20 years of fighting fraud: From then to now.” Fraudsters have become much more sophisticated and difficult to detect in those 20 years. Their methods have evolved from channels like telemarketing and mail to include newer technologies like social media, remote real estate transactions and even AI.

Don’t miss out on the latest news from FCT including Fraud Prevention Month!

Fraud blogs

Three ways you can protect your customers from title fraud

It’s the end of the 20th annual Fraud Prevention Month. We’ve seen how fraud has evolved in that time, and how much more sophisticated it’s become.

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Let’s hear from the fraud prevention experts: Q&A with John Tracy and Marie Taylor

John Tracy and Marie Taylor are two of the minds behind FCT’s fraud prevention practices. Marie is our director of national underwriting, and a Certified Fraud Examiner (CFE) who examines deals for warning signs of fraud. As senior legal counsel for our claims department, John works to investigate claims of fraud, and reconstruct how they succeeded.

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If your client isn’t title insured, they’re at risk from fraud

In 2010, Allan Davis* bought a home in Southern Ontario. Everything was quiet until 2016, when Allan got a statement of claim regarding two additional mortgages on his home.
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How can ID theft lead to title fraud?

As a legal professional, you take your clients’ protection seriously. That’s why you use title insurance on every deal, since any transaction could need it.

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The past, present and future of fraud prevention

2024 marks the 20th anniversary of Fraud Prevention Month in Canada. Since 2004, the Canadian Anti-Fraud Centre (CAFC) and industry leaders like FCT have worked to educate the public about the danger of fraud, and to spread awareness on how to stay safe from it.
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How can homeowners protect themselves against title fraud?

With more news stories surrounding title fraud breaking, more homeowners are asking what they can do to protect their homes before they become the next headline.

 

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What’s being done about title fraud?

Your client’s home is one of the greatest investments they’ll make in life. The idea of something happening to it is one of the worst images they can have as a homeowner.

 

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Canada’s seniors are vulnerable to title fraud

With title fraud on the rise in Canada, it’s more important than ever that homeowners get protected. But there’s one group both less likely to have fraud protection, and with properties more attractive to fraudsters: seniors.

 

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Title fraud is a risk on every deal. That’s why every deal needs protection.

Webinar 

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Fraud Prevention 2024: Recognizing Red Flags in Legal Practice and Staying Ahead with Technology

As the evolving landscape of fraud continues to pose complex challenges, legal professionals must stay ahead with knowledge to effectively combat these deceptive practices.

Resources 

Frequently Asked Questions

What is title fraud?

Title fraud is when someone impersonates the legitimate owner of a property and takes out a mortgage on it, or sells it to an innocent buyer. Title fraud can result in a total loss for the lender on a transaction, while property owners face a stressful and expensive process to have their clear title restored.

How can I identify title fraud?

Some warning signs include: a suspiciously low sale price, pressure to close the deal quickly without asking questions, instructions to pay out the mortgage to an unrelated third party, and incomplete or inconsistent documentation.

How can I protect myself from title fraud?

Always use an ID verification tool when onboarding clients. Check the closing documents against each other for inconsistencies in signatures, or personal information. Close every transaction with title insurance in place so that if there is fraud, you and your client are protected.

What should I do if I suspect title fraud?

Report any suspicions to law enforcement, the other professionals involved in the deal, and relevant authorities promptly for investigation. If you’re unsure about a deal, you can reach out to FCT’s underwriting team.

Can title insurance help prevent title fraud?

The main role of title insurance in the case of fraud is providing coverage and legal assistance to owners and lenders, but it can also help in prevention by adding underwriting scrutiny to transactions. Always make sure to digitally verify client ID in addition to title insuring the transaction.