The article discusses how scammers are using artificial intelligence (AI) to perpetrate deed fraud and title theft, allowing them to illegally transfer ownership of homes. AI is being leveraged to generate fake documents, forge signatures, and impersonate homeowners, making it easier for criminals to steal properties. The scams often target elderly or vulnerable homeowners, as well as vacant or abandoned properties. Experts warn that AI-enabled deed fraud is becoming more sophisticated and harder to detect, posing a significant threat to homeowners and the real estate industry. The article highlights the need for increased vigilance, better fraud detection systems, and stronger legal protections to combat this emerging form of AI-assisted crime.
Source: https://www.businessinsider.com/scammers-use-ai-deed-fraud-title-theft-to-steal-homes-2024-10