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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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http://www.smh.com.au/business/banking-and-finance/timid-asic-under-fire-over-crackdown-inconsistencies-20140905-10ct4r.html Timid ASIC under fire over crackdown inconsistencies Banking and Finance Date September 6, 2014 Adele Ferguson   "What do you have to do to get banned for life?" federal politician Tony Smith asked the corporate regulator at a parliamentary inquiry in Melbourne on Friday.  Smith was referring to a three-year banning order slapped on financial adviser Peter Holt for providing inappropriate advice to retail clients, including gearing them up with margin loans and high-risk managed investment scheme (MIS) Timbercorp, which culminated in their financial ruin. The tone of the questions by Smith, Senator John Williams and Senator Debra O'Neill, and the accusation that Holt's "inappropriate advice" was influenced by the payment of high commissions, put the blowtorch on ASIC and how it decides whether a financial adviser should be banned for three years, seven years or for life.  In Holt's case, ASIC banned him from providing financial services for three...
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  • Jetfighter
    Jetfighter says #
    That is right, ASIC is only looking after the Banks and not the consumer. serving the greater of two masters is not a viable polic
  • organza
    organza says #
    The bunch of clowns at the helm of ASIC do no more than scout with their mine sweepers and then bury all evidence of what they fin
  • Aries
    Aries says #
    The only ones worthy of being a staff member of ASIC are the ones who have left in disgust knowing the deviousness going on behin
  • Duped
    Duped says #
    ASIC will never learn from their mistakes, it's their culture of looking after the big boys in the financial world. Isn't it funny
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Get a copy of SUNDAY MAIL - couriermail.com.au   11th May 2014 Great one page article - retirees and pensioners fed up with ASIC's dithering around, protecting their banking buddies, whilst dishonestly proclaiming they are protecting consumer interests. Can someone find an e-copy for me.........................great article.  This email address is being protected from spambots. You need JavaScript enabled to view it....
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