"It's Just Going To Get More Sophisticated" – AI Fake Nearly Completes Fraudulent Land Deal

Deepfakes have been common in the media for a while. Sometimes, they are funny or fun to watch, but artificial intelligence is increasingly being used for fraud, whether catfishing or something more sinister like an attempt to infiltrate Ferrari. 

Recently, in Florida, a young investor ready to make his first land purchase became embroiled in a scheme to buy a property that wasn’t for sale. Udi Levi told 7 News Miami that he was looking for his first real estate deal when he heard about a vacant lot in Hallandale Beach, FL. His father is a real estate broker and another agent, Josh Mor, had received an inquiry about selling the property. Although only 19, Levi was ready to buy and develop the land. 

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The person on the other end of the transaction claimed to be a deaf old woman who couldn’t talk on the phone. She provided two forms of identification that matched the owner of the property. Mor agreed to list the land for $60,000. 

Levi offered $52,000 in cash and the deal was accepted. Levi told 7 News Miami he was excited about the deal and thought he was winning. His real estate dreams were about to take off. 

The buyer said she wasn’t in the state. The company handled the closing and Florida Title & Trust set up a Zoom call to confirm that the owner wanted to sell. 

That’s when things got weird. Lauren Michelle Albrecht, founder of Florida Title & Trust, said something seemed off the second they got on the call. While the face on the screen looked like the woman, it was hard to determine if it was a real video. They tried to talk to her, asking her to raise her right hand and she wouldn’t respond to commands. That’s when the real estate broker and Albrecht realized they were dealing with an AI fake and stopped the transaction.

 "I caught it but that doesn't stop them from going to another realtor or another title company and trying it with somebody else,” said Albrecht.

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The police were contacted and both the Miami Dade Police and Broward Sheriff's Office said this was the first time they had seen this fraud. The picture belonged to a missing woman in California. Her niece has been paying property taxes on the property and it is not for sale. 

"It's just going to get more sophisticated and I wouldn't be surprised if more people utilize this type of technology to fool many people in our community," said Broward County Property Appraiser Marty Kiar. The county has a crime prevention team working on 180 fraud cases and they have made 60 arrests so far this year. 

Levi is undaunted about real estate investing but says his first closing will now be in person. Remote real estate deals became common during the pandemic when someone buys or sells a property without transacting in person. Investors who purchase property in locations where they do not live may want to take extra precautions. This story highlights the need to develop more sophisticated ways to prevent fraudulent transactions from harming consumers. 

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