Bulletin: SLS2024005

Dear Associates:

We have learned that imposters attempting to fraudulently impersonate sellers have started to utilize an older technique known as Agent Identity Theft (Ghost Agencies) to facilitate unauthorized imposter sales. The scheme involves an imposter using the letterhead/branding information of a legitimate agency but utilizing the imposter’s contact information and bank account. The scheme begins where an imposter seller advertises a property they do not own for sale, and when the imposter seller receives an offer to purchase, the imposter seller amends the offer sheet to require closing with what appears to be a legitimate agency. However, the contact information provided is for the imposter and the earnest money deposit is to be tendered to the escrow account controlled by the fraudster. The legitimate agency usually only finds out about the situation when one of the parties reaches out to confirm that the agency is handling the file using information found independently on the internet or when the fraud is completed, and the buyer is seeking relief.

Accordingly, we would request that you refamiliarize yourselves with the previously issued bulletins referenced below relating to this latest scheme.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

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