Saturday, November 13, 2010

Lease Cheque Fraud in Toronto

A Toronto Real Estate Board Member with a condo lease listing has reported that he received a fraudulent cheque in relation to the property.

An individual claiming to be a doctor at the Hospital for Sick Children called the REALTOR recently, indicating that he had seen the listing on www.REALTOR.ca

After asking a number of questions about the listing, the individual indicated that another doctor would act as his representative to view the property. Telephone numbers with (647) and (210) area codes were provided, however, when the REALTOR attempted to make arrangements to show the property, the representative indicated he was unable to do so due to travel arrangements to Austin, Texas and the United Kingdom.

On November 5, the REALTOR received a cheque for a full year's worth of lease payments. The property had not been viewed nor had any paperwork been completed.

The cheque was made out to the individual REALTOR, rather than the Brokerage and it was drafted in the name of a third party company. Upon contacting this company, the REALTOR in question learned that it was indeed a fraudulent cheque. The company's Vice President of Finance advised that they are aware of a previous attempt made to issue the cheque, which included a request that the recipient provide funds in return.

To report such occurrences, individuals are encouraged to contact www.phonebusters.com, a joint anti-fraud initiative of the Royal Canadian Mounted Police, the Competition Bureau, and the Ontario Provincial Police.

Taken and modified from Toronto Real Estate Board's News section.

Sunday, November 7, 2010

How Corrupt is Your Country?

With governments committing huge sums to tackle the world’s most pressing problems, from the instability of financial markets to climate change and poverty, corruption remains an obstacle to achieving much needed progress.

The 2010 Corruption Perceptions Index shows that nearly three quarters of the 178 countries in the index score below five, on a scale from 10 (very clean) to 0 (highly corrupt). These results indicate a serious corruption problem.


This information is compiled and provided by Transparency International, the global coalition against corruption. Some countries that interest me rank as follows

Denmark #1

Canada #6

United Kingdom #20

United States #22

Ghana #62

Rwanda #66

Italy #67

India #87

Pakistan #143

Iraq #175

Afghanistan #176

Somalia #178 (most corrupt)