WA’s Consumer Protection Commissioner has warned that scams within the property industry are becoming increasingly sophisticated and difficult to spot, urging real estate agents to remain vigilant.
The warning comes after 10 settlement agents received identical emails from someone claiming to be the owner of a vacant block in Yanchep.
The alleged scammer told the agents they are overseas and requested a name change on the land title and assistance to sell the block for around $900,000.
However, Consumer Protection Commissioner Dr Owen Kelly said the settlement agents recognised the warning signs and took steps to prevent a potentially devastating financial and emotional loss for the actual property owner.
“We urge real estate and settlement agents to always take identity verification requirements seriously,” he said.
“Those who don’t could face prosecution as well as damage to their professional reputation.”
The email also requested details about how their identity would be verified, specifically questioning whether they would need to attend a Consulate to participate in a virtual meeting.
Australian Institute of Conveyancers WA chief executive Brook Durling said the incident highlights the vital role the settlement profession plays in protecting property owners.
“These attempts will continue, which is why fraud prevention must be a shared responsibility across the property sector and the wider community,” she said.
“Being alert, asking questions and reporting suspicious activity remains critical.”
Commerce Minister Dr Tony Buti said the incident is a timely reminder of the importance of real estate and settlement agents to conduct mandatory identity checks, especially if the person they are dealing with is unknown to them and comes from overseas.
“Luckily this scam was caught in time, otherwise there would have been much heartache and stress for everyone involved,” he said.
“Ultimately, if there is any doubt, they should report their suspicions to the proper authorities and not proceed with the transaction.”
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