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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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Posted by on in Consumer Warnings
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Treasury, RBA, ASIC and APRA are all on Government Song:  “we see no systemic issues.”  This was their “evidence” in the recent Senate Hearings by the Economics Committee 8th – 10th August….please read the transcripts.   

The Federal Government is disgracefully trying to cover-up and hide the awful truth and condoning the lies and this must stop this hidden agenda immediately.  

The BANKS were LYING and they have masterfully used the TOO BIG TO FAIL ARGUMENT and then encouraged our own FEDERAL GOVERNMENT TO LIE to the People’s House: Our Parliament!!!! 

The Banks, ignored the HIGH COURT and the Judiciary.   

This wretched state of nation affairs affects every citizen.

THE WEAPON OF DECEIT: The dreaded Service Calculator and the plan to steal homes from ordinary citizens

Whilst it may appear that Brokers “exaggerated” income figures, across Australia and NZ, they were taught to do so via a calculated mathematical technique combined with the specific use of Bank generated internal Service Calculators.  These calculators were not available for the public and banks claim they cannot hand over a copy citing “internal documentation” as an excuse.


Bollocks:  The printed service calculator was filled in, on instruction from the Business Development Manager (“BDM’s”) - bank officers.   Brokers were merely following protocols and policies in lending, set by the banks.  We have emails from BANKS that state: “if Service Calculator is not sent with the Loan Application Form (“LAF”), THE DEAL WILL NOT BE PROCESSED.”


Brokers therefore faxed the LAF along with other documents: Borrower Income Statements, Identification Declarations by Brokers and attachments, and the SERVICE CALCULATOR printout showing “affordability.”  There were at least four signatures gathered from the intended borrowers which suggested they had “read and fully understand” the application documentation.


Now the BANKSTERS are being obstructive and untruthful on which documents formed part of the APPLICATION that credit assessors relied upon to approve these “unaffordable” loans.


The Banks (36 Lenders including the majors) all used these Service Calculators, as did the Insurers to look closely at “affordability,” to satisfy PRUDENT LENDING practices.




The base income was placed by operator (Broker) in the BASIC INCOME box. Also the intended purchase of PROPERTY permitted the price of the property (inflated) to be added.  The Bank Calculator would test “serviceability” by ADD-BACKS, using normal accounting methods of adding on cap gains and/or TAX advantages, whether or not the person would ever have a tax issue to calculate……gross eg: Pensioners


Those who ahd legitimate businesses (most did not and several were on Centrelink benefits)

So why did the banks choose to use the Broker Chain Model and why did they insist on the use of this Service Calculator by Brokers with three weeks schooling? 

For prudent lending why risk this?


Why was it so important, nay crucial, for Banks to insist that Brokers to be taught to use the Calculator by the BDM’s?  As the Brokers tell me: “Denise without the service calculator we did not pluck figures out of the air….NO WAY!!!!”


The answers are now clear to everyone but the Federal Government and Treasury in particular.


The Banksters needed the six links in the Broker Chain Model to AVOID LIABILITY….to set up a Patsy ….. to pass on responsibility to novices and to ENTRAP CONSUMERS.


That fact from the documentation gathered to date including the 4000 emails from Bankers to brokers is sooooooooooooo obvious!!!


The Service Calculators were a vital tool as the Bank Officer BDM’s would come around to broker offices across Australia and NZ and teach Broker how to present “serviceability” as per PRUDENT LENDING REGULATIONS by the use of the INCOME FIGURES produced by the banker’s online and highly “confidential” service calculator.

Insurance Companies would also use the same SERVICE CALCULATOR to “check” serviceability.

By 2005/7 the Brokers were fed up with this method so the banks permitted two systems and the NO DOC came into play in a major way: 

Bank Emails heralded the dawn of new lessons in entrapment:  NO service calculator, NO Asset & Liability required, No income details to be given.

BDM’s promoted the good news:  No service calculators and NOW you can do ABN’s for a day and NO GST!!!!!

The word in the financial services sector: you can sign up anyone with equity in their home and a pulse!!!  Banks check nothing……..

The Australian Banking Industry Sub Prime Lending Scam rolled along the imprudent lending track with heavy machinery in play.  Civilians had no chance of defence. 

Banks screamed: “Target ARIP’s: Asset rich and Income Poor.”

 Banksters and their equally challenged Lawyers developed a plan to maliciously go against regulations of serviceability/affordability and, against Prudent Lending.


Consumer Groups fought back in 2003/4 and launched a series of funded cases. 


The Judiciary had no second thoughts about appropriate rulings:   During the next 9 years, 12 Judges in 8 cases in 4 jurisdictions all favouring the victims ruled: HAND BACK TITLE in 30 days, discharge mortgage in 30 days and no further fees and charges.  Two Appeal Court decisions were included.


Then came the  recent High Court decision in Firstmac vs O’Donnell 22 Jun 2012, have confirmed what we have known for none long years:  IT’S THE BANKS THE BANKS, THE BANKS.


Thousands of Brokers were set up to be the fall-guy.  Brokers were not the subject of the civil suits.  In fact Brokers were witnesses to what really occurred.  Now Brokers and ex Brokers are becoming whistleblowers and telling us the truth of what was happening and providing us with the internal documents the Banks were terrified would escape……..




JOIN THIS MOVEMENT TODAY – ASK FOR BFCSA POSTERS and help us protect future generations as well as the current members who are under threat…..


Denise Brailey



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  • doyla66
    doyla66 Friday, 31 August 2012

    "What is the penalty for deceiving a Parliamentary Joint-Committee these days or are banks executives immune from prosecution because they regularly suffer from amnesia?"

    On 25 June, 2009, the Bank made a statement to the Australian Stock Exchange saying, "Based on the Bank's knowledge and enquiries to date: There is no evidence of improper or dishonest practices or conduct by the Bank in connection with Storm clients."

    In evidence to a Joint Federal Parliamentary Committee in September 2010, Mr Liddy stated, "If there was wrongdoing in the North Ward branch and we had identified wrongdoing, we would take action."

    It defies credibility that Mr. Liddy, the CEO of the Bank of Queensland at that time, was not kept informed about the goings-on in the North Ward branch. He was either one of the most inept CEO's in the history of banking or he has deliberately misled a Parliamentary Joint-Committee.

  • doyla66
    doyla66 Saturday, 01 September 2012

    I would love to know the answer to this great question?

    "What is the penalty for deceiving a Parliamentary Joint-Committee these days or are banks executives immune from prosecution because they regularly suffer from amnesia?"

    Also another great statement:
    "It defies credibility that Mr. Liddy, the CEO of the Bank of Queensland at that time, was not kept informed about the goings-on in the North Ward branch. He was either one of the most inept CEO's in the history of banking or he has deliberately misled a Parliamentary Joint-Committee."

    I think he is just inept & a wordsmith ducking responsibility by blaming a branch that for some reason he believes he has jurisdiction over!

  • doyla66
    doyla66 Friday, 31 August 2012

    I really wonder what planet the banksters are on. Clearly not the one I inhabit. They want to play dumb, do they? Well not surprising as the government do much the same. They'll all find someone to blame for their being "misinformed".
    Heaven help anyone trying to teach their kids to tell the truth and right from wrong! They'd certainly have to keep them well away from TV and newspapers while they were impressionable :(

  • doyla66
    doyla66 Friday, 31 August 2012

    Apparently,PM knowingly misleading the world is No.1 priority re G20 Summit Mexico;"You can learn from AUS lecture to (EU)leaders - prudent AUS banking system trollup, give me a break!!!! So "Cover-up" to "Save-face" in election year + every 2nd tier bank may face insolvency in the event Royal Commission renders all "Fraud Loan Contracts VOID"; they'll leave no stone unturned; every political marker "called in" to keep a lid on this one no doubt; but the kettle is boiling; it's time to serve afternoon tea all over the heads of 36 banksters with a twist of lemon, nice!!!

  • doyla66
    doyla66 Monday, 29 October 2012

    Check out this petition, something like this is needed help clean up Canberra. Its fine to make lying an offence, but when it is so easy to deliberately mislead without technically lying the law has no real effect.

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