According to a recent article in the Calgary Herald the Alberta police have reported that:
- The number of cases of reported fraud is steadily rising and this can be largely attributed to technology. Criminals are using both old methods and new technologies to scam victims, and so we need to embrace technology to identify and combat.
- In 2012, Calgary Police received 2,881 fraud complaints. The number of complaints rose to 2,961 in 2013 and totaled 3,052 in 2014. This number includes mortgage fraud.
- However, because fraud so often goes unreported, the numbers out there likely don’t even come close to representing the amount of fraud actually occurring: “These stats are actually exponentially larger than they appear as they often include multiple frauds within one case file.” http://calgaryherald.com/news/local-news/fraud-on-the-rise-theres-a-lot-of-really-smart-criminals-out-there-nowadays.
The issue of fraud is not one isolated to Calgary – this is occurring across Canada with organizations such as CMHC, title insurance companies, local and provincial governments, and lenders and brokers alike posting and making this very serious issue a priority. Why? Because it costs us all!
Fraudsters are
not the only ones that can use technology to be effective – you can too!
- Take the time to really read your client’s Equifax credit report
- Review property searches in Purview
- Perform Google searches to validate employment information
- Commit to continuing education – subscribe to blogs to stay in the loop about new and innovative forms for fraud
- Use social media to share your discoveries and learnings
These measures
can put you on a level playing field with fraudsters! Take advantage of
these tools by calling Purview For Mortgage Brokers today at 1.855.787.8439.
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