Recent fraudulent activity has been reported in the Australian Capital Territory, causing authorities to raise concerns on how secure the industry is from fraud attempts. Property managers have been warned about these attempts, as overseas owners are often the main targets.
The Commissioner for Consumer Protection has advised property managers to check the legitimacy of the documents submitted by confirming the identity of the client. Managers should have your up – to – date contact information to verify the authenticity of the documents sent. Clients are also encouraged to investigate how property managers go about verifying their identity. Keeping an open line of communication between the client and property manager ensures that all holes are covered to protect your property from fraudulent activity.
Read more about this on the Property Observer website.