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Fraud By Son - Son Changes Name To Match Fathers
The First Title Insured Lender was contacted by the borrowers solicitors, alleging that an identity fraud had taken place.
The borrower's owned a property in Brisbane; they themselves were residing in Sydney. Their son was living in the Brisbane property, which was unencumbered. The First Title Insured Lender had commenced enforcement proceedings in circumstances where the loan (which was for $165,000) had been maintained for some time, but had recently gone into default.
First Title investigated the matter. It transpired that the son had perpetrated a fraud by applying for a loan, offering his parents Brisbane property as the security property. The son and his partner had gone to great lengths to perpetrate the fraud, including the son changing his name to that of his father, producing genuine identity documents with the changed name appearing - which matched with an identity check against the name of the registered proprietor on the Land Titles register.
First Title is currently liaising with the owners to try and resolve the matter.
The Insure Lender will not suffer a loss or pay legal expenses.
