by Paolo Taruc
Toronto Police are asking for help in identifying a woman allegedly involved in a $ 300,000 mortgage fraud scheme.
In a statement on Wednesday, authorities said the woman contacted a mortgage broker’s office and applied for a second mortgage on a house for $ 300,000.
The mortgage broker was able to secure financing from a mortgage lender and a second mortgage was registered on the house. Subsequently, the woman received approximately $ 300,000 through her real estate lawyer.
Shortly after the mortgage was registered, the real owner received the mortgage documents in the mail and immediately contacted his lawyer, investigators said. They added that the woman had used false ID to impersonate the real owner.
According to Equifax Canada figures released earlier this year, more and more Canadians are improving their understanding of financial fraud and how to defend themselves against such events. Its survey found that in 2016, around 91% of Canadians took concrete steps to protect their personal data, including rechecking their cards / bank statements, shredding vital documents, updating their passwords, installing security software and using social media less.
Meanwhile, 81% of respondents have implemented at least two of the aforementioned security measures, the Kingston Herald reported.
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Unlicensed incarcerated sales agents accused of fraud
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