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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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ASIC says no to low-doc loan inquiry - despite international expert forensic evidence of forged signatures

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The Australian

18th August 2012

ANTHONY KLAN

THE corporate regulator has refused to investigate a claim of alleged low-doc loan fraud despite one of the nation's top forensic handwriting experts saying there is "no evidence" the documents in question are legitimate.

Businessman Gary White applied for copies of the application forms for a loan he had taken out via mortgage broker Resi and said he believed his signature had been repeatedly forged and his income inflated more than sixfold.

Resi has denied Mr White's allegations and says it takes such allegations "very seriously".

As reported by The Australian this week, Mr White has spent four years seeking regulatory action, and has spent thousands of dollars having the documents forensically examined.

Handwriting expert Steven Strach, of Forensic Document Services, concluded there was "no evidence" signatures on the documents were those of Mr White.

The Australian Securities & Investments Commission says there is "insufficient evidence" to investigate the matter.

Read on ... http://www.theaustralian.com.au/news/investigations/asic-says-no-to-low-doc-loan-inquiry/story-fn6tcs23-1226452913888

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  • doyla66
    doyla66 Saturday, 18 August 2012

    Once again, we witness the regulator, ASIC = useless.

  • doyla66
    doyla66 Saturday, 18 August 2012

    What else can anyone expect from ASIC, FOS and others. All in bed with each other. "Save the banks" is their motto.

  • doyla66
    doyla66 Sunday, 19 August 2012

    mr

    ASIC are also corrupt. When we complained to them about our loan docs being FRAUDULENT they said there was not enough evidence!!!!!! TOTAL WASTE OF SPACE, SACK THEM ALL.

  • doyla66
    doyla66 Sunday, 19 August 2012

    mr

    ASIC are also corrupt. When we complained to them about our loan docs being FRAUDULENT they said there was not enough evidence!!!!!! TOTAL WASTE OF SPACE, SACK THEM ALL.

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