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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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Pls Call Denise: 0401 642 344 

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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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Attn: ALL BFCSA members and friends

Please copy and paste the Press Release below, into a fresh email and send to three (3) newspapers in your local area:

1) Your main newspaper like Herald Sun, The Age, Sydney Daily Telegraph etc

2) Local suburban paper like Geelong Herald or Newcastle Advertiser

3) Community newspaper like the 'Leader' or other.

If you want to also send it to one local radio station and one local television station, we can some create some REAL IMPACT to back up Denise's work at the 'front line'.  

Then add those email addresses as a new "Comment" at the end of this blog.  That way we can track which outlets got the release.

So COPY, PASTE, SEND and COMMENT with email addresses :-)



Consumer Group Reveals Banks Still Continuing to Profit From Fraud 

PERTH WA.  It’s no secret that consumers are not happy with the performance of the ‘big 4’ banks in Australia, with only 76% of people recently polled, saying they were happy. 

Mortgage default and foreclosures are becoming more prevalent every day in Australia, but most people don’t realise that many large banks and non-bank lenders are using mortgage and loan application forms to make a grab for peoples’ homes and the Titles to their properties. 

Banks use ‘Loan Application Forms’ (LAF’s) and ‘Service Calculators’ to determine a person’s ability to repay a loan by using their income, expenses and assets and calculating a maximum amount they can borrow. 

Award-winning consumer advocate and President of the Banking and Finance Consumer Support Assoc (BFCSA Inc), Mrs Denise Brailey said, “We have looked at over 100 Loan Application Forms so far and in every case there is evidence of alterations to documents after the signature was obtained and without the clients' knowledge or consent.” 

Alterations include exaggerated incomes and assets, understated expenses, and sometimes up to three different sets of handwriting on a single application.  “Our main priority is to save the homes of those people who have been caught by the use of fraudulent documentation.” 

Many of the thousands of members of BFCSA Inc have expressed frustration at not being able get copies of their original LAF’s from their lender and are being told that the docs are either lost, not available, or that they have no rights to request or receive a copy for their own files. 

A recent statement by ASIC outlined banks’ and lenders’ obligations to provide customers a copy of their LAF’s at the time of signing.   Of particular importance to customers is the Loan Service Calculator that rides with the mortgage docs and assesses the customer’s ability to repay.

Mrs Brailey has recently been invited to be a witness at Parliament House in Canberra on 8th of August at 2.15pm, and to deliver a Senate Submission.  

“We will be calling for an end to ‘Low Docs’ and ‘No Docs’ loans and for a ROYAL COMMISSION into the BANKING SECTOR.  We want to highlight the seemingly unchecked practice of imprudent lending on the part of many of our major banks and lenders, as a result of non-affordability and possible LAF fraud.” 

The other serious issue for Australian home owners is the selling of the RMBS (Residential Mortgage Backed Securities) packages and the securities fraud, known as ‘double-dipping’ that goes hand in hand with the process of mortgage securitisation”, Mrs Brailey adds. 

About BFCSA (Inc) 

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned and appalled with the growth of Loan Fraud in Australia.  Their work is entirely voluntary in the spirit of community concern and they investigate many scams.  For more information visit: 

Contact: Denise Brailey
- President

(08) 9631 1488 or 0401 642 344

This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.



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Guest Sunday, 05 July 2020