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BFCSA
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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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Subscribe to this list via RSS Blog posts tagged in 42% toxic loans
Hockey to fight tax dodgers and organised criminals with new taskforce ABC News 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,...
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  • Wayne
    Wayne says #
    have a little laugh at this , Woman poo's on bank floor ..... http://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3
  • setup
    setup says #
    Does this include loan document falsification??
  • Duped
    Duped says #
    It's a real worry when ASIC is one of the departments put in charge of catching criminal banking behaviour. They have an appalling
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MY COMMENT  This email address is being protected from spambots. You need JavaScript enabled to view it.  APRA has ordered LAZY/CORRUPT ASIC to take a "Bo Peep at TOXIC LENDING!" The moment of truth is bubbling (at last) to the surface.  BFCSA has been gathering victims of unaffordable loans together for years and complaining to three Chairmen of ASIC re these Interest Only 30 year loans sold to pensioner and low income families.  BFCSA have, with assistance from an economist and editor, been explaining the impact for the banking sector to four Inquiries this year.  ASIC read my February report and evidence in chief in Senate Inquiry into ASIC.  Medcraft in denial.  Now after Sept figures they claim they want to give surveillance next year?  Where is the Consumer Protection?  ASIC is conflicted in protecting big end of town with the interests of Mums and Dads left in a closed file - for years.  BFCSA subs to Murray, Fawcett and recently Dastyari Inquiries explain in...
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  • Wayne
    Wayne says #
    Yer....jabaajaabbjarginyabadabadooooooooooo yep that's what we need to focus on, Now wheres my glasses? ASIC= a blind man on a ga
  • organza
    organza says #
    “Compliance with responsible lending laws is a key focus for ASIC???
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