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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: Dear Prime MInister - 72 year old preyed upon by ST GEORGE

Posted by on in Political Blindness
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Dear Prime Minister,                  Re:  Bank Fraud by St George Bank

I was 72 last year, when St George Bank informed me that I was responsible for a mortgage of $210,000, which I had never applied for! 

I had given my whole of lifetime superannuation payment, plus my inheritance from my mother, to be half payment for a home at Boomerang Beach with my son in law.  He had to get a $210,000 mortgage as part of his half payment.

The mortgage broker, carefully trained by the bank, applied for the mortgage on my behalf, without my knowledge or authority.  The loan application was entirely fictitious; very little apart from my name applied to my life or financial status.

The application was transmitted electronically to the bank.  No one at St George Bank ever contacted me about this application.  It was approved without my knowledge or authority.

My daughter and son in law have now finished their relationship and I am left with the consequences of paying a mortgage I never applied for.

We are preparing to sell our home to meet the financial obligation.

THERE IS SOMETHING SERIOUSLY WRONG WITH THE BANKING SYSTEM IN AUSTRALIA.

WE NEED A ROYAL COMMISSION INTO BANKING IN AUSTRALIA.

 (Name supplied)

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Guest Thursday, 12 December 2019