Mortgage Fraud Alert: How BC Property Owners Can Protect Their Equity

The Land Title and Survey Authority of British Columbia (LTSA) has issued a critical alert about recent mortgage fraud activity targeting property owners across the province. This emerging threat demands immediate attention from anyone holding real estate in BC.

Who’s at Risk?

LTSA has identified a specific pattern in recent fraud attempts. Scammers are using falsified identification to impersonate legitimate property owners and fraudulently take out new mortgages against their properties. The activity appears concentrated in BC’s Lower Mainland—specifically Surrey, Delta, New Westminster, and Burnaby—with particular focus on the South Asian community.

The fraudsters are targeting two types of properties: those with clear title (no existing mortgage or charges) and properties carrying older mortgages with low balances. These characteristics make properties attractive targets because they appear to have available equity.

What Property Owners Should Do

The LTSA recommends a three-pronged defense strategy:

Monitor Your Title Records: LTSA’s new BC Property Connect service allows verified owners to receive alerts for any pending changes to their property title. This early warning system is critical—catching fraud attempts before they’re registered can prevent significant financial damage.

Keep Records Current: Ensure your land title information is up to date. Notify LTSA of address changes, name changes, or other updates. Outdated records can make your property a softer target.

Stay Vigilant: Identity theft remains the foundation of these schemes. Protect personal information and monitor financial accounts regularly.

The Professional Responsibility

Real estate professionals, financial institutions, and BC notaries must maintain strict identity verification protocols as required by FINTRAC and their regulatory bodies. These gatekeepers play a crucial role in preventing fraudulent transactions from reaching the title registry.

For BC homeowners, the message is clear: proactive monitoring and current documentation are your best defenses against mortgage fraud.

Protect your property investment today. Check your property’s security status with HOMS Property Score or book a consultation with our team to discuss additional safeguards.