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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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Hockey to Fight Tax Dodgers and Organised Criminals with New Taskforce

Posted by on in ROYAL COMMISSION URGENT
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Hockey to fight tax dodgers and organised criminals with new taskforce

James Glenday5 hrs ago
 "This type of crime (white collar crimes) poses a genuine threat to national security," Treasurer Joe Hockey said.

The Abbott Government is setting up a new financial crime taskforce to tackle tax dodgers, fraudsters and organised criminals.

The Serious Financial Crime Taskforce will build on the Project Wickenby tax avoidance investigation, which ends this year.

But it will also have a broader goal of fighting other serious white collar crimes, like superannuation and investment fraud, and identity offences.

"This type of crime poses a genuine threat to national security and to the integrity of Australia's economy, financial markets, regulatory frameworks and tax revenue collection", Treasurer Joe Hockey said in a statement.

The taskforce will get $127.6 million over four years for investigations and prosecutions.

Agencies like the Australian Tax Office (ATO), Australian Federal Police, Crime Commission, Australian Securities and Investments Commission and Customs will be involved.

Project Wickenby currently targets the use of tax havens and has raised $2.1 billion in tax liabilities since it was established in 2006.

It has sparked a number of complaints, most notably during its pursuit of Crocodile Dundee star Paul Hogan, but the ATO regards the project as a success.

So far, it has secured 44 criminal convictions and 76 people have been charged with serious offences.

"The taskforce will build on the good work already done by Project Wickenby [and enable] agencies to extend their cooperative work across the broader serious financial crime risk," Mr Hockey said.

"The Serious Financial Crime Taskforce will have an unquantifiable positive benefit on the financial wellbeing of members of the community who, without the Taskforce, may be victims of financial crime.

"It will also help ensure all taxpayers pay their fair share of tax."

 

 

 

 

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