Preventing crime

While no evidence of property fraud has been detected in Ireland to date, a large number of cases have been documented in England, Wales and, most recently, Scotland. The most common type of property fraud is where criminals attempt to ‘steal’ property from its owner by selling or mortgaging it and absconding with the proceeds.

While anyone can be the victim of fraud, certain categories of people and property are more vulnerable than others. In the majority of instances, property fraud is coupled with identity theft, with vulnerable properties being targeted by the criminals. A property could be considered vulnerable if it is not registered in the Property Registration Authority, not mortgaged, is vacant, rented, or the owner lives abroad.

Spotting red flags

Sophisticated frauds can be difficult to spot, but solicitors are sometimes presented with opportunities to thwart fraudsters by being alert to warning signs. Strict compliance with anti-money-laundering obligations can help a solicitor to prevent this type of crime from occurring.

• Read the full article, and more advice to prevent property fraud, in the December 2017 Gazette

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