Talbot Olivier proactive in detecting fraud

As most people will be aware, there have been two fraudulent sales of property in Western Australia recently and one foiled attempt. The targets thus far appear to be unencumbered investment properties under management with the owners residing overseas.

Following the first fraudulent sale, this firm adopted a proactive position by instigating (ahead of ratification of the upcoming Anti-Money Laundering and Counter Terrorism-Financing legislation), a 100 point identification check of new clients in our settlements division. Firmwide, we have conducted seminars on recognising fraudulent behaviour and have established clear guidelines and reporting channels to counteract suspected fraud.

A Joint Media Statement has been issued in respect of the latest scam by the WA Police, Landgate and the Department of Commerce and can be viewed at http://www.landgate.wa.gov.au/docvault.nsf/web/AU_NM_MEDIA/$FILE/20110811RealEstateScamJointStatement.pdf