A Real Estate office in Halifax had a case of attempted fraud this week and and our office was notified by our Association; I thought I would blog it as a warning.
An individual attempted to purchase a property and wanted to complete the deal as quickly as possible. He would not contact a lawyer or get any representation, nor did he want a home inspection or other conditions. The individual wired money to a "mortgage broker" to complete the transaction. This "mortgage broker", which identified itself as a company out of Ottawa called FinanciaLinx, then sent the real estate office a "certified" deposit cheque. The deposit amount was significantly greater than that for which the agreement called. The office took the cheque to the bank to verify that it was valid and found out that it is in fact a fraudulent cheque.
Please note that FinanciaLinx Corporation is a legitimate vehicle leasing company operating out of Toronto that is also being taken advantage of, as these cheques appear to be coming from this company but in fact are not associated with FinanciaLinx Corporation in any way. FinanciaLinx Corporation does not provide any mortgage services or financing. Their name has been used several times in relation to fraudulent cheques. While cheques in their name should be treated with caution, please do not discredit the legitimate company.
Brokers and REALTORS® are asked to exercise caution in dealing with any suspicious transaction to avoid becoming a victim of fraud. In addition to this, brokers and REALTORS® are asked to contact FinanciaLinx Corporation's Risk and Compliance Department at (416) 753-4061 to report any cheques using FinanciaLinx Corporation's name.
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