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What BFCSA Does...

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 ASIC Negligence
  Former Stingers and Underbelly actor Peter Phelps says his financial future is in ruins after claiming to have fallen victim to disgraced Queensland investment adviser Brad Sherwin. The Australian actor, who currently appears in the Network Ten series Wonderland, has claimed his 35 years' worth of superannuation - more than $400,000 - was "stolen" by former financial adviser Brad Sherwin, who chaired the now-defunct Wickham Securities. "Superannuation stolen by bankrupt 'financial adviser' Brad Sherwin," Phelps wrote on Facebook on Tuesday. "Was property investing super ... [and] the **** frauds us. "Kids future. Farm. Gone." More than 300 self-funded retirees lost up to $27 million after investing with Mr Sherwin's company Wickham Securities - a mortgage finance lender providing funds for borrowers buying or refinancing commercial property. Mr Sherwin ran Brisbane-based Wickham Securities with his brother-in-law Peter Siemons.   Wickham collapsed in December 2012, owing millions to investors. Related entities, including DIY Superannuation Service and Sherwin Financial Planners, went bust a month later, owing...
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  • Louie2U
    Louie2U says #
    So what will ASIC do this time? Probably get an attack of the willbees! Either that or they will simply write more of those useles
  • Aries
    Aries says #
    Dirty crooks the whole damn lot of them.......all corrupt helping each other to get away with crime.
  • Wayne
    Wayne says #
    Hopeless ASIC again & again & again shows their a dud....The doctor believes the regulators, the ASX and ASIC, failed to properly
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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 .....
  • 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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       INTRODUCTION ADDRESS TO PARLIAMENT by Denise Brailey: 20th Feb 2014   Thank you Senators, I would like to begin my perspective of ASIC’s performance with a detailed summary of my 15 years of dealing with ASIC at Commissioner Level, in most States. My files harbour an extensive historical record of consumer complaints being ignored by ASIC. Now in 2014, we read another few hundred submissions stating the same lack of confidence exists when vulnerable consumers are forced to deal with ASIC.   Individual losses from the pockets of hard working Australians ought to be of considerable concern to the Australian Parliament. Serious financial burdens placed upon older people losing their homes, retirement funds, and financial security places an immense burden on our economy.   Firstly, I would like to table the original 2001 LIST of SCAMS that I uncovered 1997 to 2001. I briefed ASIC hierarchy in meetings...
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  • doyla66
    doyla66 says #
    ASIC have lost the plot or did they ever know what was happening? A huge money waster. No morals, no guts.!!!!!
  • doyla66
    doyla66 says #
    Your right arree, BFCSA also exists because victims of bank fraud have no where else to go as the regulator is hopeless, asleep at
  • doyla66
    doyla66 says #
    "BFCSA exists because of ASIC’s incompetence and bad performance on a national level. " EXACTLY !!
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