title fraud

Title insurers need to be brought under anti-money laundering rules to fight against scam artists who impersonate homeowners to sell or mortgage their properties, a former insurance executive says.

Mortgage and title fraudsters who impersonate homeowners and tenants have targeted at least 32 properties in Ontario and British Columbia, investigators and official warnings suggest.

The professional photographs posted on a property tour website last year show Moffy Yu's condo in downtown Toronto, a light-filled two-bedroom home with floor-to-ceiling windows framing sweeping views from the tallest residential tower in Canada.