Scammers' Mortgage Loan Fraud Blocked by Nantou, Caotun Land Offices, Saving Over 20 Million NT Dollars

Land administration offices in Taiwan have thwarted multiple real estate fraud schemes, preventing scammers from defrauding individuals of over 20 million New Taiwan dollars. These scams typically involve tricking people into mortgaging their properties for fraudulent investment opportunities.

In one instance, an elderly person in Nantou was approached by scammers promising high-yield investments. The individual was persuaded to use a property valued at 9 million NT dollars as collateral for a loan. Alert land office staff, through probing questions, suspected fraud and contacted the police. The elderly person then revealed the investment scam, and officials and police successfully dissuaded them from proceeding with the mortgage.

Similarly, the Caotun Land Administration Office prevented two similar mortgage fraud cases within the past two months. In another case, a 20-year-old man repeatedly attempted to mortgage his parents' property for a large sum, claiming it was for home repairs. When the office contacted his family, it was discovered he had fallen victim to an online scam and incurred significant debt.

Authorities are highlighting the increasing trend of real estate-focused scams, often referred to as 'ground agent' scams. They recommend that the public utilize the free 'Land Registration Change Instant Notification' service. This service sends SMS alerts to property owners when any changes are made to their land registration, providing an extra layer of security against fraudulent activities.