Seller Impersonation Fraud
Fraudsters committing seller fraud are becoming more creative and sophisticated. In many areas, two or more agents a week encounter and fortunately stop fraudsters mid-transaction.
According to the American Land Title Association (ALTA), fraudsters are impersonating property owners to illegally sell commercial or residential property. Sophisticated fraudsters are using real property owners’ Social Security and driver’s license numbers in the transactions, as well as legitimate notary credentials, which may be applied without the notary’s knowledge.
Please educate yourself, your staff, and your clients by reading ALTA’s Seller Impersonation Fraud in Real Estate bulletin and remain vigilant with every closing file that is opened in your office.
