The British Columbia Financial Services Authority (BCFSA) recognizes that fraudulent real estate transactions are a growing problem and urges licensees to play a role in preventing them. By being vigilant and following proper protocols, licensees can help protect consumers and maintain the integrity of the real estate market.

Here are a few steps licensees can take to prevent fraudulent transactions:

1. Verify the identity of all parties involved in a transaction.
2. Ensure that all documents are legitimate and authentic.
3. Be aware of red flags, such as unexpected changes to a transaction, pressure to complete it quickly, or requests to keep the transaction confidential.
4. Report any suspicious activity to the BCFSA immediately.

By taking these steps, licensees can help prevent fraudulent real estate transactions and maintain the trust of consumers in the market. The BCFSA encourages licensees to stay informed and up-to-date on the latest developments in preventing fraud.