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Real Estate Council of Alberta warns public of common fraud schemes as part of Fraud Prevention Month

Calgary, Alberta – March marks the beginning of Fraud Prevention Month across Canada. The Real Estate Council of Alberta (RECA) is taking action to raise awareness about common fraud scenarios in the real estate sector.

“During the pandemic we’ve seen an increase in types of fraud schemes that use social media, free posting sites or mobile chat apps which attempt to use popular online platforms to try and attract victims” said Charles Stevenson, RECA’s Registrar.

“We’ve seen reports of fraudsters targeting vulnerable individuals whose houses are in foreclosure by posting online ads offering debt-consolidation deals, that are in fact scams.”

Fraud isn’t a single situation with a single type of transaction. It occurs in a variety of ways, for a variety of purposes.

RECA recommends consumers do their research, and if a deal seems too good to be true, it likely is.

“This year we are partnering with other organizations, such as local police services and the Better Business Bureau (BBB), to connect with the Alberta public and raise awareness about fraud,” said Stevenson.

“It’s about stepping up and raising awareness about what we’re seeing as a regulator and making sure that consumers are aware and informed in their dealings.”

Posters, infographics, and articles about various types of real estate and mortgage fraud are available on RECA’s website, and consumers can follow us on social media for fraud prevention tips throughout the month of March.

RECA Senior Investigator Cheryl Rumpel will be hosting a virtual presentation: