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Scammers, fraudsters and devastated victims: part 1 of an API Magazine crime series

In the first of a two-part series on property sector fraud and scams, API Magazine uncovers the range of criminal practices that can decimate buyers, sellers and others in the real estate purchase chain, and offers invaluable advice on how to avoid becoming a victim.

Hooded computer user at screen with digital graphics superimposed.

It used to be enough to install an alarm and lock the door of a business so you could sleep well at night knowing intruders couldn’t get in.

But as an increasing number of buyers, real estate agents, conveyancers and solicitors are learning, scammers are not only opening their digital doorways but stealing vast sums of money from right under their noses.

The ACCC (Australian Competition and Consumer Commission) Targeting Scams Report released t…