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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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Posted by on in PROPERTY MARKETS
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I hope you managed to purchase a copy of this very important magazine article. A five page feature on MORTGAGE FRAUD.  Bank Rolled AUSTRALIAN MAGAZINE Greg Bearup & Anthony Klan Saturday 30/6/2018


Given my extensive background into the Mortgage Fraud complaints during the past 18 years people ask why I have not been called to the Royal Commission which started with my pleading to Tony Abbott to call a RC in 2013.  Instead we were given a "Hockey Roots and Branch Fiasco" run by the head of the CARTEL David Murray who ha zero integrity in taking that position. In March 2016, I wrote 8 page letter on why consumers are desperate for a Royal Commission. Unlike Abbott, Shorten responded immediately.  His 2IC called me on a Sunday night (2nd April) and said "Denise we are running." Bowen's Office called me 30 mins later - same words: "Denise we are running." On 4th April, 2016 the Labor Team of Labor leader Bill Shorten, Deputy Tanya Plebersik, Mark Dreyfus (Shadow Attorney General) and (Shadow Treas.) Chris Bowen, held a Press Conference to announce: "Royal Commission into the Banks and Finance."  Yet Australia decided to vote PM Malcolm Turnbull back in for another term and he said NO RC. 

I and my fellow consumers were devastated.  It meant for us another three years of hard battles for JUSTICE.  Under pressure in December 2017, Turnbull did a BANKFLIP to control an RC with very WEAK TOR. It has been disappointing with only Minister of Finance ex Banker NAB (husband a Banker UBS) KELLY O'DWYER helping ASIC CHOOSE CASES not as a result of proper investigations by ASIC (they admit to not doing consumer case investigations in letters to consumers)  but those cases already settled via MEDIA EXPOSURE.  Hayne , a man of high intellect, and QC senior counsel Rowena Orr, also high intellect and a savvy articulate QC,  are being spoon fed old cases to showcase Liberal version of an RC.  No experts called and no current victims NONE.

Its a SHAM RC run by Bankers, members of the CARTEL, and a waste of good talent.  Despite the impediments, Hayne and Orr are hitting some goals, despite the interference and political constraints imposed upon them.  This version of the RC is a Turnbull and Banker show pony with no substance and mirrors the political shenanigans re GOLDMAN SACHS leading up to and after the 1929 GREAT DEPRESSION

The HARWOOD CASE highlights the need for 2-3 year Royal Commission into BANKER FRAUD and tells us why we need WIDE Terms of Reference and 3 Commissioners running the investigations.  Regulators ASIC, APRA and the RBA must be drawn into the arena, included as the subject of the Royal Commission.  

 Its one of my cases and we are in discussions with CBA re settlement including my January letter to CBA Chairman and the Board as to why CBA had the worst complaint handling system in the world.  I do settle cases each months.  Bankers must do better at proper complaint handling procedures and STOP running with procrastination, denial, stupid excuses which are an insult to intelligence, more creative fudged figures and denying legitimate points of LAW as has been argued and won in courts around Australia. CONSUMERS HAVE THE POWER now as truth is powerful.

Within weeks, executive meetings were set up and The Harwood case was the first one the Bank Execs could look seriously at “how not to handle a complaint.”  I am confident we will get a proper settlement of this case.  We ran the story because the slowness of reaction and conclusion is still appalling.

The article concentrated on brokers.  Yet 55% of all bad loans sold are sold by BANK OFFICERS and managers and that same process and bad outcomes as those loans written up by brokers BECAUSE the SELLERS are using the same bank calculator as a compulsory BANK TOOL.  The BIG TORY is that the calculator is the villain.  The Bank tampered with the algorithms and we have had that program analysed to prove it is set up to exaggerate all information recorded in this IT system.  The SELLERS do not know of these frauds.  The FRAUD on the LAF is coming from the computerised calculator.  Sellers enter the details into the IT program known as the serviceability calculator and then MUST take the futuristic projected income from the program and copy onto the LAF.

 50,000 SELLERS in Australia have no idea it’s a FRAUD.  Hence they ring me after reading my material and then the "penny drops".  They too trusted the banks same as the borrowers.  When Bankers started to be exposed for their criminal cartel activities they wickedly BLAMED THE BROKERS, BLAMED THE MANAGERS, BLAMED THE BORROWERS - everyone but themselves.

 The Serviceability Calculator is a magnificent, ingenious way for BANKERS TO ASSET-STRIP across the Nation.  Turnbull does not want me giving evidence – it could collapse the banks.  The game plays on.  Like Goldman Sachs there are people betting hard on the collapse. The big Australian Short and paying big bucks right now to hang on to the bet re insurances.

Penalty for Asset Stripping: Criminal Law: 10 years Jail:  Ought to be upgraded to 25 years, no Parole, Seizure of all assets.  White Collar Crime is a parasite on this nation. As ex Banking CEO Societal Generale NY, ex Corporate Cop, Security Chief ASIC, ex American Securitisation Association inaugural chief Medcraft described in 2017 "Australia is White Collar Crime Haven for rest of the world."  

The intention of the wholesaler market of global financiers is to milk Australia dry of personally owned assets, residential, investment, farming properties.  Those who own properties are the key target.  Hence, Hayne is confined to weak Terms of reference and the non-criminal: “Below Community Standards.”

We need donations from time to time to keep going.  I do this on an old age single pension.


BFCSA acct:      BSB # 036081      Acct #  336829  Please email me so I can thank This email address is being protected from spambots. You need JavaScript enabled to view it.

Hayne has read my March Report – he is using the arguments – including agency and DOGGETT.  Hayne as former High Court Judge has a High level of Integrity.  Over the years our High Court has served us well. 

I shall keep on speaking of CARTEL interference.

Subtly Hayne asked the most significant Q to Banker: ARE YOU ACTING AS ONE?  Banker mumbled twice and Hayne demanded he answer a third time.  Hayne was then told: “WELL NO-ONE WANTS TO BE FIRST HORSE OUTTA THE BOX.”  Ie YES WE ARE ACTING AS A CARTEL

Of course the 16 Bankers are doing just that.

Bankers captured FOS, ASIC, APRA and the CCMC, via the CCMCA almost two decades ago. Consumers of Bad bank Products were doomed from the start.

 I  delivered a powerful Power Presentation in Perth and will in the future load the content up online in the near future.

Our BFCSA Report highlights the Mechanics of the Australian Mortgage Fraud – Submitted  to Commissioner Hayne and would most likely be read by QC ORR.  The Broker is the Agent of the Bank and there are and half a dozen spin offs of PRECEDENT SET.  It again is my work in 2003 that set that one in motion with the law firms.  FOS and ASIC have been desperately lying to the public on this argument in EVERY DETERMINATION.  The argument of Agency is captured under Master Servant argument that has been dominant for 3 decades or more. 

I have written 23 Reports to Parliament on this subject.  I warned in evidence in chief 8th August 2012, "The Australian Government cannot, ought not to profit from (banker) FRAUD."  I warned of the dangers looming re RMBS Bonds being sold to the Americans, who sold their crap mortgages to DEUTSCHE. 

Hence my Report to Treasury and the Ramsay EDR Inquiry late 2017 explains in 14 pages of detail WHY FOS SYSTEM MUST BE DEMOLISHED. FOS was always anti consumer and part of the problems consumers experienced - never part of the solution.

I hope this serves to assist as many people as possible. 

We need a change of Government and I hope Australians are waking up as to why that is so. Turnbull is in charge of the DATE of the next election so we are still at his mercy.  

The BIG SWITCH must happen.  We need to clean out the maggots in Banking.


Kind regards


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Guest Monday, 28 September 2020