Thursday, September 15, 2011

Australia Relying on Real Estate Agents to Spot Fraudulent Selling

Let's rely on the party with the most to gain from letting the transaction proceed. What a great idea.

Nigerian Scammers Actively Targeting Real Estate Sector
Two Perth properties were recently listed, and sold, after the swindlers successfully changed contact details for the absentee property owners and then instructed an agent to list the properties. The scams were not discovered until after the properties settled.

Recently, in NSW, another attempted scam was foiled, but only after the property was listed on the market and heading for sale.
What a safe place to invest Australia is.

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