GLOBAL SUB-PRIME CRISIS

BANKILEAKS

Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook
 

facebook3           facebook2 

BFCSA
MORTGAGE
DISTRESS SOS

What BFCSA Does...

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.

Visitors

Articles View Hits
728090

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Denise Brailey

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.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

BFCSA: Banks see Fraud on $2 Billion worth of Credit Cards - well hidden Chaps!

Posted by on in BANKSTERS
  • Font size: Larger Smaller
  • Hits: 1636
  • 0 Comments
  • Print

 

Unverified Lending since 2008 and Veda speaks of "Fraud Checks."  Not in our experience in dealing with banks - the fraud is internal to the banks.  Without Veda seeing the supporting docs of an application how can they verify if fraud or not?

Consumers are waking up.  Even David Murray is warning what comes up must come down.  There has been widespread approval of unaffordable loans and the consumers had no idea of the frauds and were forced by packaging to take credit cards they had said NO to.  Banks said you must take them as part of the pack - no choice - cannot separate.  Breaches of TPA all over the place.

Nearly $2bn of credit apps red-flagged for fraud

  • feed
  •  
  • Share
by Adam Smith | 25 Aug 2014
 
Nearly $2bn of credit applications were red-flagged as potential fraud in the last financial year.

New research from Veda has shown $1.9bn in credit applications were red-flagged as potential fraud risks, but not all lenders assessing the applications were aware of the risks. The credit reporting agency said red-flagged applications grew 52% in two years, and are continuing to rise as a percentage of applications.

“While most major credit providers in Australia conduct fraud checks on credit applications, there are a number of lenders who process high risk applications unaware of possible links to fraudulent activities,” Veda general manager of fraud and identity solutions Imelda Netwon said.

Veda ran the analysis on $1.6tr worth of credit applications checked by its credit bureau in the year to 30 june 2014.
Last modified on
Rate this blog entry:

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Friday, 14 August 2020