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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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Subscribe to this list via RSS Blog posts tagged in ANZ Fraudulent Lending Practices
Consumer says to us:  I said in my submission to Dastyari Inquiry that banks had forgotten about page numbers on faxes and when these Bankers woke up  so many Members and other people who requested one were told by Bad Bankers: "sorry documents have all gone missing..."  It's a joke...the FOS did not ask ANZ for a copy of my LAF or if they did were not given one.  FOS told Parliament "many bank files are ina  muddle and documents have gone missing. Yes that's what happens when its a Crime Scene run by Banking Cartel.  Consumer Confident and Trust is shattered for years to come. FOS CIRCULAR Sept 2013 is a must read re Maladministration in Lending:  FOS Circular    Issue 15 - Spring 2013   http://www.fos.org.au/the-circular-15-home/fos-forum/maladministration-and-low-doc-loans/   Maladministration and low doc loans   Our Annual Review highlights the increase in disputes we received in 2012-2013 about maladministration in lending - that is, cases...
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  • Wayne
    Wayne says #
    FOS, is a total waist of our Money & Time. Ex bankers running a consumer industry.. what a con. Some even handling Bank cases whil
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ANZ traders stood down over interest rate rigging probe Banking and Finance Date November 20, 2014 James Eyres http://www.theage.com.au/business/banking-and-finance/anz-traders-stood-down-over-interest-rate-rigging-probe-20141119-11pxmn.html   ANZ Banking Group has stood down seven traders being targeted by the Australian Securities and Investments Commission for possible manipulation of Australia's benchmark interest rate. The regulator is investigating an extensive period of potential misconduct in the Bank Bill Swap Rate (BBSW) market from early 2007 to 2013. Royal Bank of Scotland, UBS and BNP Paribas have already been forced to pay fines for their role in manipulating the rate, but this is the first time one of the big four Australian banks has been identified as being involved in potential misconduct. ASIC is continuing to investigate 10 other members of the 14 member BBSW panel – including the three other big banks –but this is taking a long time and involves the review of millions of documents. ASIC's attention on...
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  • Wayne
    Wayne says #
    ANZ ...AS YOU SEW SO SHALL YOU REAP..... there is heaps more fraud going on at ANZ than everyone relies... but it will surely rai
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The three sister regulators are hopelessly politicized and useless.  APRA did not realise toxicity existed in RMBS Packages until we suggested as such in 2012 Parliamentary Senate Inquiry into Banking.  "Government cannot, ought not to profit from fraud."  Pretty basic stuff.  Groups telling APRA of fraudulent conduct complaints re TRIO Capital.  APRA says: "huh...please explain.....we are bit thick but we will redraft...."  and on it goes proving the high level of regulatory inertia (or corruption) in this country.    Its going to be an ugly consumer war indeed as the aggrieved will not stand for this nonsense, nor the regulatory clap trap for much longer.  Someone in Government has to take control of these Banks and Super Funds instead of the "tail wagging the DOG!!!!" Instead of watering down consumer protection laws, Joe Hockey and Mathias Cormann would do well to throw the bucket at the Banks! This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.financialobserver.com.au/articles/legal-issues-finance-delay-trio-distribution Legal issues, finance delay Trio...
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Is there any end to what the Too Big To Fail Banking sector will do to avoid justice for consumers and throw all liability onto its customers for Liar Loan Mortgages?  Banks will become the new Nigerian Scam.   We will diligently continue to clean up the mess.   This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.businessinsider.com.au/1000-australian-finance-jobs-are-sent-offshore-per-month-2013-6 1000 Australian Finance Jobs Are Sent Offshore Per Month Sarah Kimmorley  Jun 22, 2013   The financial services jobs market continues to struggle as the sector loses almost 1000 jobs a month to more cost effective offshore hubs, such as Asia and New Zealand. Combined, the big four banks have about 20,000 full-time overseas roles supporting areas such as technology, mortgage processing and call centres, according to The Fin. One industry consultant estimates these jobs have risen 10- 20% for ANZ, Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corp over the past four years. The Financial Review...
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 The Banks were spruiking business in all directions with ZERO REGARD FOR RISK.  Time for Banks to stop putting profit before people. http://www.fkfc.com.au/anzs-mortgage-introducer-program/ ANZ’s Mortgage Introducer Program December 2012 Forest Killarney Football Club (FKFC) has entered into an association with ANZ to allow us to start introducing potential customers to Australia’s most awarded home lender*. Mortgage Introducer Program is a way ANZ reward businesses or community organisations for referring customers. As an ANZ Mortgage Introducer, Whats in it for Forest Killarney Football Club? FKFC can earn an upfront commission for every customer we refer who takes out a new ANZ Loan. FKFC could earn additional fundraising income by introducing potential customers to ANZ’s home loans*. ANZ offers an up front commission for successful customer referrals. Which means FKFC could benefit from additional revenue streams to supplement funding for club activities and programs. How it works Referring a customer to ANZ is...
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http://www.theage.com.au/articles/2004/06/15/1087244895759.html?from=storylhs  The mortgage wars  June 15, 2004   The home-loan market is shrinking, the banks want their profits back, and the mortgage brokers will be fighting for survival, writes James Kirby. Stand back for a bruising battle in the $100-billion mortgage broker market. Falling house prices, shrinking loan volumes, and tougher regulation spell trouble for an industry that has never faced a downturn. Worse still, the banking industry is waking up to the fact that it threw away profits to this upstart sector in the good times. Now it wants the money back. ............. The banks have already made their first moves. On June 1, the Bank of Queensland cut all ties with mortgage brokers.   The move by the thriving Brisbane bank has set off alarm bells throughout the mortgage broker market. The Bank of Queensland's chief executive, David Liddy, says: "We decided to go back to doing it ourselves with our...
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http://www.brokernews.com.au/news/breaking-news/breaking-third-arrest-in-100m-home-loan-scandal-188203.aspx   BREAKING: Third arrest in $100m home loan scandal by Calida Smylie | 30 May 2014   Victorian detectives have just arrested a third man in a $100 million home loan fraud scandal which involves six banks. Detectives from the Fraud and Extortion Squad announced this morning that a 43-year-old Rowville man has been taken into custody as part of an ongoing investigation into a $100 million fraud. The man, who has not yet been named, has been interviewed by police and charged with more than 140 fraud related offences. He will appear at the Melbourne Magistrates’ Court shortly. The complex and decade-long scam relates to fraudulent loans secured by an accounting firm and involves five men. Two have been named so far.   The alleged fraud also involved ANZ, Westpac, Bankwest, St George and Bank of Queensland.  CBA is said to have foreclosed on the homes of victims despite...
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  • doyla66
    doyla66 says #
    Just shows the lenders total ruthlessness and disregard for APRA etc Transformation, and their total flouting on any legalities wh
  • doyla66
    doyla66 says #
    CBA is said to have foreclosed on the homes of victims despite the bank being alerted to the alleged scam for more than four years
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It sickens me the way the New Zealand regulator and the Ombudsman and Serious Fraud Office (whom I met and including the Minister in 2009) are mishandling these serious complaints of LOAN APPLICATION FRAUD engineered by the Bank Engineers, using the same SERVICE CALCULATOR as preferred weapon of choice and have been making obscene profits from criminal activity for more than a decade and a half.   Our regulators have all enjoyed over-bloated pay packets for playing in SNOOZEVILLE and continue this farcical denial campaign to Parliament.  "No systemic issues?"  Remember those words Greg Medcraft.  These victims lives are in tatters and you Sir can expect your brilliant career to become a down hill run from here on in.  You have been the Model of Cover-Up procedures by the Australian Securities and Investment Committee and then Chair to IOSCO to perhaps cover up there also. Australia has permitted it Banks to...
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  • doyla66
    doyla66 says #
    people have and still are being duped world wide.. Australian banksters the jig is up as more and more of us learn of your crimina
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Bankers Profit at the Expense of the Broader Community Written on 02 September 2013 by Vern Gowdie    ‘CBA’s record result delivers Narev $7.8m pay cheque’ said a headline in the Business section of The Australian yesterday. According to the article, the CEO’s salary package rose to $2.1m compared to last year. Nice work. Narev is not an isolated case; bankers around the world are reaping the benefits of stabilised markets courtesy of central banker intervention.  Don’t get me wrong; if someone genuinely delivers they should share in the spoils. But what irks me is the banking sector (globally) is a protected species. As we witnessed in the GFC, the financial sector is backstopped by taxpayer money. Success is theirs and failure is ours. Globally the financial sector has grown like topsy over the past two decades and remuneration has followed suit. But has this growth added any real value to the economy? Paul Volcker (Chairman of the...
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  • doyla66
    doyla66 says #
    The CBA doesn't even need to get a completed Loan Application to force you to borrow. The Bank Manager is well versed in Blackmail
  • doyla66
    doyla66 says #
    How many more people have CBA forced into hardship with their predatory tactics since this article was written last September 2013
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Loan book growth drives strong profits for major Australian Broker News 10th Feb 2014    A major bank recorded a cash profit of $1.73bn in the final quarter of 2013, spurred on by solid lending book growth.ANZ announced the unaudited profits this morning, which the bank says are up 13% on the same period last year.Continued growth in the bank’s Australian lending division has helped fuel profits, said CEO Mike Smith, with the bank recording above system growth for the past 16 quarters.“ANZ’s distinctive strategy based on growth in our domestic franchises, growth in Asia and strong operational and productivity disciplines is continuing to deliver a consistent improvement in business growth and financial performance,” said Smith.“ANZ’s business strategy has also led to ongoing improvements in the quality of our lending book. Together with the outlook for continued low interest rates and low levels of corporate leverage we now expect the total...
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  • doyla66
    doyla66 says #
    Just incredible isn't it - they steal their loot via mortgage fraud and then pay it out to shareholders. Wonder what might happen
  • doyla66
    doyla66 says #
    Commonwealth Bank the same one embroiled in the financial planning/investment/broking saga have again increased their 6 month prof
  • doyla66
    doyla66 says #
    What did I tell you, CBA announces 4.27 billion dollar half year profit - mainly through FRAUD on mortgage loans. Pay out aggrieve
  • doyla66
    doyla66 says #
    Well well, swimming in profits are they? Surely Mr. Mike Smith can spare a bit from the petty cash tin to reimburse ANZ victims o
  • doyla66
    doyla66 says #
    We can only hope that the Senators are there for the people and not for themselves. This Inquiry will prove it one way or the othe
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