In a recent interview with Global News, Daniela DeTommaso, President of FCT highlighted how sophisticated fraud has become, and how important it is for professionals and industry leaders to stay ahead of the fraudsters.
“Just because someone is physically present [for a real estate transaction] doesn’t mean they are who they say they are,” Daniela said. “It’s really important that people adopt a more multi-layered approach, including digital identity verification.”
Fraudsters have benefitted from recent advances in printing technology, as well as generative AI to help supercharge their scams, Daniela explained. “This AI-powered fraud is really transforming this landscape, making impersonation more sophisticated than ever.”
For Daniela, and for FCT, the keys to fighting back are educating professionals and the public, developing innovative solutions to fight fraud and bringing industry leaders together. “We must adapt by collaborating within the industry, by integrating more advanced identity verification technology tools and staying vigilant,” she cautioned.
Thanks to increased sophistication, fraud in the real estate industry poses a greater threat than ever before. But for Daniela, and for FCT, it’s a fight we’re committed to winning.
Listen to Daniela’s whole interview here.
About FCT
Based in Oakville, Ontario, FCT has over 1,200 employees across the country. FCT provides industry-leading title insurance, default solutions and other real estate-related products and services to approximately 450 lenders, 43,000 legal professionals and 5,000 recovery professionals, as well as real estate agents, mortgage brokers and builders, nationwide.
Great Place to Work® has named FCT one of Canada’s Best Workplaces® for 10 consecutive years (2014-2023) and certified FCT as a Great Place to Work®. In 2024, FCT’s parent company, First American Financial Corporation, was named both one of the 100 Best Companies to Work For and one of the Best Workplaces for Women™ by Great Place to Work® and Fortune Magazine for the ninth consecutive year.
For more information on FCT, please visit the company website at www.fct.ca.