Law Association concerned at increase in identity theft, property fraud

IDENTITY theft and the use of fraudulent documents in land transactions are engaging the attention of the Law Association of Trinidad and Tobago, which says it is concerned by the frequency of these types of fraud.

In a release, the association said it took note of a recent court ruling involving identity theft in the sale of a property.

“The level of sophistication employed by fraudsters is such that instances of fraud can easily escape the scrutiny of trained and experienced real estate agents, attorneys-at-law and officials of financial institutions.

“Often, these professionals may not be able to ascertain the veracity and authenticity of documentation pertaining to the identity of parties in property transactions.”

The association said incidents of fraud could be reduced substantially if all stakeholders are “aware and carry out their responsibilities with extra care and attention.”

It is now urging the public and everyone involved in buying and selling property to be vigilant.

“Use all reasonable efforts to find out the true identity of sellers, mortgagors and their agents.

“Owners should also take steps to protect their identity and property, especially when they do not live on the property being sold or reside abroad, by not supplying any personal information or identification documentation to any person other than a real estate agent registered with the Financial Intelligence Unit, an attorney-at-law, or authorised officials of financial institutions.”

The association said it will continue to monitor the trend, particularly as it relates to the sale, purchase, and mortgage of residential property, in the public’s interest.