Remuneration Fraud during COVID-19

May 14 - During these unprecedented times the federal government has set up financial programs such as the CERB to assist those who’s income has dropped below $1,000 in any four week period.  Real estate professionals and managing brokers are reminded that deferring commissions earned in a given month to a later date so that the real estate professional can take advantage of the federal income assistance may be determined by the authorities to be fraud. 

Should RECBC become aware of brokerages altering commission records to indicate that remuneration was earned by either the brokerage or a real estate professional on a later date than it was actually earned, that brokerage and real estate professional could be subject to sanction by RECBC,  as well as potentially facing criminal charges.    

 

RECBC will continue to regularly update our COVID-19 and Real Estate webpage as new information becomes available. Please refer other professionals to the information, and share our COVID-19 for Real Estate Consumers page with your clients.