Client identification verification and real estate fraud prevention.

Identity fraud and scams are increasingly prevalent throughout the community, and the property industry is not immune to falling victim to such events.

Two highly publicised incidents in September 2010 and March/April 2011 resulted in properties being sold in Western Australia without the knowledge and consent of the lawful property owners.

These sales were undertaken by real estate agents who were contacted by criminals masquerading as the true owners.

This document goes on to address:

• How the fraud commenced
• The need to remain vigilant in other circumstances
• What is being done to minimise the risk of
  property fraud?
• Code of Conduct 2016
• Guidance Note 1: When selling a property, confirm that dealings are with the true owner(s) of the property (i.e. the registered proprietors on the Certificate of Title at Landgate) or their properly appointed representative.
• Guidance Note 2: At all times agents should be vigilant to ensure they are dealing (and continue to deal) with the registered proprietor on the Certificate of Title at Landgate, or their properly appointed representative.
• Guidance Note 3: Documented procedures are in place to ensure verification of identities for all sales, security of documents and the privacy of your clients.
• Schedule: Documents from which the 100 point identity check may be undertaken