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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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Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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BFCSA: Australia Plagued by Banksterism, Corruption and Sub Prime LOW DOC LENDING

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OUR BFCSA WEBSITE sticks to the facts.  We have spent ten years gathering EVIDENCE against the Australian banking system.  Our members are angry as they were never told the truth regarding Sub Prime Lending practices at any level: Not from the political levels, not from the regulatory schimozzle and naturally,  not from the Banksters themselves.  All parties connected to Government have been involved in cover-ups and lying to our BFCSA Members and previous RECA Members.  This site is edited (three editors) several times daily to ensure only the TRUTH is being told to the world.  We are not interested in outsider uninformed opinions, we are interested in FACT and the valued opinions of those who are victims of this crime.  

Those persons have a right to be heard and this site provides the aggrieved with a voice: a members only and private commentary forum.  Bush lawyers who invade that space are also prohibited from upsetting others.  We care deeply about every one of our members.  It troubles me deeply to be pushed into writing such words.  

Now Brokers, as expected, are coming forward as they are suffering loans in the same manner as they were talked into becoming borrowers by the BUSINESS DEVELOPMENT MANAGERS.  The Bank Officers were taught upstream by Bankster Sales Managers and so-called Credit Assessors.

A world wide practice of having COMPUTERS APPROVE LOANS has caused the biggest Global Scandal any democratic country now faces.....any country that is that allowed Banksters to take control of the Universe clothed in impunity.

Australian politicians are all on song saying we do not have more than 17 complaints regarding BANKS.  Are you kidding me?  Then why is our membership growing each day as more aggrieved borrowers and investors step forward?  Why are ALL our politicians on song, stating that "we have no systemic issues in banking?"  The only exception is a lone town crier named Senator John Williams from the Nationals.  He sees the obvious systemic issues and has spoken out about the same for over a decade. 

BANKSIA SECURITIES was a NON BANK.  I say "was" because it too collapsed under the weight of its unpalatable PONZI like dealings.   Another $660 million wiped out.    It matters not whether non bank lenders or major banks are involved.  THE PAIN IS THE SAME.   In Banksia, retirees lost their funds because monies were being lent out to borrowers who could ill afford payments.  Banksia created capitalized payments system fudned by a giant PONZI so pensioners and low income families could "afford" loans.  The problem is people who were spruiked by Banksia could not afford loans and could afford the higher interest rates even less.  Non bank lenders would real in the victims with "honeymoon rates" and then hike the rates up to impossible levels 12 months later.  Then came the dreaded REFINANCE MODEL.

Payments were then "capitalized" so as to keep the crime well hidden.....for years and years....in fact 14 years.............Good news for borrowers: "we will arrange further debt and soak up even the last 20% equity you have left....then our lawyers loooooooooove repossessions he he!"

Retirees funds were being used to support this diabolical so called "banking model."

We have a crisis on our hand.  The victims of these crimes know that 80% of these dirty LOW DOC LOANS AND FULL DOC LOANS are generated by the FOUR BIGGEST BANKS IN AUSTRALIA and Citibank, Macquarie, JP Morgan, and HBSC: 

National Australia Bank   /   Westpac   /   Australia and New Zealand   /   Commonwealth Bank of Australia

AND, 30% of Australian banks are owned by banks belonging to the United States of America

Where do we go from here?  We will rally every other retiree and/or pensioner and low income family in Australia and collectively group them all under ONE UMBRELLA in the name of Consumer Protection.  Those who seek the truth will be floored by the revelations to members.  

WARNINGS:

Stay away from NON BANK LENDERS - their EDR system ought to have their licence revoked immediately: "COSL."

Stay away from so called debt release, debt rescue plans and refinances........its a scam run by the banksters and their regulatory mates.

Beware of copy cat type sites that have sprung up recently (less than 6 months) linking their sites to us.  BFCSA Team endorses none of these sites.

The world is full of Banksters right now and Governments have failed to respond in a timely manner.

WE NEED A ROYAL COMMISSION INTO THE BANKING SECTOR TODAY!!!!  Full terms of reference please.  If Not, Why Not?

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  • doyla66
    doyla66 Sunday, 24 February 2013

    Why would every politician in Australia not be up in arms about this Bankster scam? Their spin doctors must be working overtime keeping their members away from this diabolical problem the country is facing. Which Minder would be telling them there is not a problem ?? The regulators have nothing short of lied to the Senate Inquiry and still the federal government does nothing. The government buys dirty loans from the banks and they still do nothing. Strangely enough they will probably buy more !! Am I missing something here. They are obviously aware, so once they are forced to admit to knowing about the Banksters' scam, their credibility will be shot forever. They will each be known as the politician that did nothing and allowed the scam to prosper against the citizens they are there to protect and represent.

  • doyla66
    doyla66 Sunday, 24 February 2013

    Bank secrets hidden. APRA warns releasing information "may affect the stability of Australia's economy" THEY are 12 secret documents judged to be so potentially damaging that releasing their contents would endanger the stability of Australia's whole economic system......'

    .....APRA's rejection of the request was based on the assessment of its general counsel, Warren Scott, of the dangers to the economy if the registers were to be released.

    ' In my view the confidence in the economy may be undermined if the potential emerging risks and APRA's discussions and thoughts were disclosed … this may have a systemic effect in the industry which may affect the stability of Australia's economy,'' he wrote....

    .... Mr Scott said release of the registers could influence investing decisions by Australians and harm individual institutions - a reference to behaviour such as a run on a bank when funds are withdrawn all at once. ....'The subject matter of the registers is sensitive and remains sensitive at this point in time,'' he wrote.

    Mr Scott's decision was supported by the Freedom of Information Commissioner, James Popple, in a draft ruling shortly before Christmas. The Herald's application to the Office of the Australian Information Commissioner took more than a year. ............ '

    HUGE Thanks to the Sydney Morning Herald for this investigative report. This article was Posted by ARREE on Monday, 26 November 2012 in Useless Regulators

  • doyla66
    doyla66 Sunday, 24 February 2013

    APRAs Warren Scott & Freedom of Information Commissioner, James Popple, you are covering up CRIMINAL FRAUD that the corrupt Banks have perpetrated on the people of Australia.

    We are not interested in your "views" or "opinions" or your excuses for covering this scam up, we want the TRUTH to come out.
    Your "views" & "opinions" are irrelevant & of no importance.

    You cannot suppress the truth like a facist country would do.

    We the Australian people are not slaves & we never will be, so we demand that the truth is revealed. Do not lie to the people anymore. It is a sign of domination & corruption.

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