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Real risks: how to avoid, spot and manage property fraud

“Property fraud is now a major issue not just for the property industry but for society as a whole”, warns Colette Best, senior policy officer at RICS.

The economic downturn has fuelled the current increase in property fraud and identity theft, and it is now much more likely that an innocent party will be unwittingly caught up in a fraudulent transaction. The implications for owners and managers of real estate and their lenders are potentially serious.

Vigilance is vital, and training and risk awareness are key. Organisations with property portfolios should be aware at all levels of the business of the latest and ever-evolving methodologies of property fraud. Did you know, for example, that if the address for service you provided to the Land Registry is out of date, a fraudster may be able to deal with the property behind your back?

We will look at the most recent fraudulent property transactions to come before the courts, help you to identify the early warning signs and offer practical advice on measures to help reduce your exposure to future threats.