OK, this is the third time I am raising this. I raised it twice before. The reason is that the BBC (at https://www.bbc.co.uk/news/world-us-canada-64547396) gives us the event a mere 7 hours ago by Nadine Yousif, BBC Toronto. So are they very late to the party, or is this a lot larger? I honestly cannot tell. The reason is that in the first the article is largely void of dates. In addition we get “A Canadian couple recently learned that their home was sold by fraudsters without their consent while they were out of town. Experts say theft of this nature is rare, but there has been a notable rise of similar cases in the country’s most populous city” the use of ‘recently’. Really BBC, you could not be precise? Then we are given “The BC Land Title and Survey Authority (LTSA) said it is aware of two title fraud attempts since 2020, only one of which was successful. The public corporation added it only knows of one prior case in 2019, and two in 2008 and 2009”, really? The news gives a lot more recently, but here I might be in error as there are two forms and title fraud is seemingly less used. That is fair, but there is a much larger stage here now. So what happens when any act on title transfer or mortgage acquisition, the person acquiring it must get a biometrical scan? That gives us non-repudiation. That person and only that person could have done this. It is not the weirdest idea. A house tends to be over $500K and a house is a setting of ones identity. When we add the actuary as a control setting, we get a massive drop in these activities. The biometrics and photograph give a much larger stage for prosecution and optionally deportation of these criminals. I reckon the LTSA would applaud such a move as it secures and provides safety for those who own their property. There is still a risk that someone uses the stage to quickly get in under the radar, but the use of an actuary might dwindle this risk and those who tried this approach would soon find themselves looking for a place to live outside of any commonwealth nation, because this is happening in the United Kingdom and Australia. As such a stage needs to be set where the people can create a safety setting and keep their own little castle safe from exploitation by criminals. This is not a fool proof system. I get that. The old expression is “In confusion there is profit” an expression which started during WW2. But if we can lower the risk and 4 out of 5 people currently afflicted could avoid this nightmare scenario, it would be a win win situation. Are there better solutions? That is hard to say, all kinds of instances have used IT as a easy grab for all kinds of shortcuts and I am not aware which of these shortcuts apply to Canada, but the rise implies that there are weaknesses in this setting and as such the biometric stage might lower the risks for the Commonwealth. It is just an idea, but it took me less than an hour to think it up, consider that against the stage where we were given “by the time they found out that it had been stolen last June. As of February, the couple is still working through having their title on the home restored” a nightmare of at least 8 months, so I reckon my hour was well spend and if they can sway this as well as the demand for any title change two sets of biometrics are required, the stage becomes a non-option for criminals. You see, in the EU, they have biometrics on their passports. A second biometric could be scanned at the point of sale, which might take 24 hours (optionally less), the transgressor will not get a match, which now also suggests that this transgressor could be prosecuted, but that is merely an idea. The treasure is to keep realestate safe for its rightful owner.
February 18, 2023 · 19:23
A house by any other owner
Filed under Finance, IT, Science
Tagged as Australia, BBC, Canada, Commonwealth, Land Title and Survey Authority, LTSA, Nadine Yousif, Real estate, Toronto, UK, Vancouver