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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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BFCSA: Exposing the Greatest most Dastardly Bank Scandal in Australia's History:

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The most telling piece of evidence that our Members are now discovering:  Banks ensured the customer only ever sighted a three page Loan Application Form.   The Brokers we have spoken to admit they were taught by their Business Development Manager's (BDM’s): "the LAF is only three pages and make sure client signs only three pages, then come back to the office, go online to the BANK generated serviceability calculator and type in the base income.  Then the CALCULATOR DOES THE MATH FOR YOU....easy peasy!. Then write the FUTURISTIC INCOME on the wet ink copy of the LAF." 

What the BDM's did not realise, they were setting up the Brokers to take the rap and go directly to jail if necessary.  "So if income is say $50K, futuristic income will be $180K.  Do not worry because it’s not against the law according to our favourite lawyers, to use englobo income figures.  ASIC, our corporate cop say its OK to do this too!"  And, every bunny believed this nonsense.  And our banks became the "most profitable in the world." YUK!

BDM's also taught Brokers to "shred the wet ink copy of the LAF."  This became the 'Bury the Evidence' plan.  Clerical staff at the banks were told to type up new electronic copies, and make sure the FAXED COPIES from Broker to Bank also went missing.  Yet that was tricky as the FAXED copy is the only one that contains the signature of the borrower.  NO BORROWER TO BE GIVEN A COPY OF THE SERVICE CALCULATOR, was written the Service Calculator form......... a clear sign of INTENTION TO DECEIVE THE PUBLIC that ASIC missed on its "no systemic issues" campaign.

Banks then planned to say to the regulator if any "nosy consumer advocate starts digging around the burial site"...................wte (MFAA 2004) we just say copies are missing.

Attorneys General around America, figured out what their banks were really up to post GFC and started taking a number of cases to court in most states and guess what:  Judges unanimous......if you Banker Wankers do not produce the wet ink copy whatever the excuse then case for damages against the banks - pay up!   (We just love the aussie somehow deliciously says it all)

BDM's and brokers were kept like mushrooms - in the dark and fed on...... etc.  Major Banks were the engineers and fed it to dumb subsidiaries and bank lookalikes often referred to as non banks.  Non banks pumped up the volume by 2004 to 50% market share.  Major Banks went OMGosh, we set them up and they are beating us at our own game.

The public is told competition is good for us for cheapest price.  Ho hum, the cheapest happened to be Low Docs which were the cheapest rate of interest and the Mum and Dad punters fell for that line.   Instead the people were sold the most expensive banking product in Australia's History.  It should be renamed the Financial Future in Tatters Model.  Majors aggressively jumped back in the ring and immediately picked up 85% market share............of the greatest heist this country has ever seen.  Remember all of this Cannon, Symond, Kinghorn, Coe et al?

What was the amazing KEY INDICATOR of grand theft.  The customer purchasing a home loan, using equity loan against their own secure home, was asked to sign each of the three pages and none of those pages contained the income.  Mum and Dad never saw the 8 pages added by the broker and faxed to the bank.  The Broker was following BDM instructions.  The BDMs were the Bank Officers.

Every loan including FULL DOCS were then processed in the same manner.  Every person with a loan has been set up!

Here is a clue: Bankers at the highest level told the managers, the credit assessors, the BDM field officers and the Brokers: "we do not want Brokers to send us the WET INK COPY. Why?  The entire document is riddled with criminal activity that's why.  Bank Executives retired or about to retire should all be reported for criminal activity to State Police and quickly.  Bankers were the ones that implemented the "SHRED THE LAF program."  They engineered Skippy the computer to approve blame a mechanical failure.  Bankers are the ones who engineered the SERVICE CALCULATOR scam for Brokers to use and in a manner no-one would suspect that a major crime by Major Bankers was in play....aided and abetted by their lawyers. 

Well even Al Capone & Charles Ponzi had an Attorney.

Bankers even ensured the Regulator kept their noses away from the hidden documents because the head of the Corporate Cop is in fact an ex Head Banker.............nice lunches chaps!  Next week could be a beauty!

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One new Member suddenly realised why we taught everyone to demand a full copy of the LAF and the FAXED copy:

 I have just finished my final FOS Submission and as I was reviewing my Loan Application Forms from 2 Banks for what must be the 200th time something occurred to me that I had not taken into consideration before this point. Bank forms from the first Bank Westpac had us sign on 3 positions in 8 pages NEVER DID A SIGNATURE BACK A PAGE THAT CONTAINED FIGURES RELATED TO INCOME OR ASSETS. Other documents from Westpac cleverly 3 pages, page 1 and 2 backing each other page 3 gained our signature as we see it nothing untoward could happen all the pages were part of the bundle CORRECT. But as we now know it was set up so certain pages could be removed, altered or just figures changed to suit but the signature still stayed in place. All the Westpac documents we got back were neatly typed although fraudulently altered but there sat our signature on all documents it all looked so above board until you see none of the pages signed by us back one single relevant figure. All the figures pages altered signatures in place perfect no one will ever know if they don't ask for the forms they don't know about WELL DONE DENISE ALERTING US ALL TO OUR RIGHTS TO THESE DOCUMENTS.

Our second Bank SUNCORP, well that's a different story they did have one of our pages of figures backed up by a page containing our signatures but they did not have it neatly typed they just hand wrote the figure they needed to make the loan fit. Needless to say the figure was totally incorrect and not what was supplied as was the case with both Banks but Skippy the calculator will do that. Back to the second Bank Suncorp it seems that if you are going to align your figures on a page that contains signatures either on the front with the figures or on the page behind always write them in by hand (in pencil is best as its easier to erase) but don't type them in its too hard to realign them to fit into that text box on the printer.
Worth a check everybody just see if you actually get pages with figures and signatures together if you do my advice is ask your Bank to allow you to see the original wet copy that is what I am about to pursue right now. Happy Banking I bet they wont let you see those copies PROBABLY A PRIVACY BREACH.

NB from Editor:  IN 2004 ASIC had a cute little phrase:  "Consumers don't know what they don't know."  ASIC must have been laughing (laffing) all the way to the next lunch......with their favourite Banker.  Ma and Pa have suddenly realised, and are hopping mad.....................

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  • doyla66
    doyla66 Monday, 18 November 2013

    Yes this is a big, big scandal. If Denise knows what is going on and we all know the same now. then there is no way that ASIC, FOS,do not know what is going on. Good on you ASIC, FOS you have ruined thousands of Aussie Mums and Dads lives. Hope you enjoy you freebies donated by the Lenders the criminals the instigators of the scandal. You are all in it up to your ears. Are you proud of what you have done Banksters, ASIC, FOS.? It means that all of us who have persevered with FOS disputes have been ripped,we have worked hard to provide facts to substaniate the fraud. We know we are right!!! This is a sting, collusion to the max. FOS must recall all the Maladministration, and fraud disputes and take action, right the wrong. ASIC, FOS, Nab you have sunk us all to the lowest points of our lives. No home, no money, ill health stress.

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