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BFCSA
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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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BFCSA Blog

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 Bank & Mortgage Fraud
Why gearing gets a hearing from Peter Dutton The Australian 12:00am December 2, 2016 Will Glasgow, Christine Lacy   The burden of handling one of federal politics’ most controversial portfolios isn’t holding back Immigration Minister Peter Dutton from building his substantial personal wealth. The Member for Dixon is one of parliament’s less publicised multi-millionaires, having accumulated assets worth at least $10 million — perhaps as much as $20m — mainly through investment in residential real estate. While protesters this week were hijacking the parliament over the Turnbull government’s refugee policies, Dutton was ­disclosing that he had been on a real estate spending spree since May. He’s snapped up two new properties for his portfolio in his beloved Queensland — one in inner city Brisbane’s Spring Hill and another in far north Queensland’s Townsville. No wonder Dutton was one of the most strident critics of Labor shadow treasurer Chris Bowen’s proposal to...
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Low-doc loans make up one third of ASIC submissions to Senate AUSTRALIAN BROKER NEWS by | 20 Jan 2014 The final submissions to the Senate committee’s review on ASIC’s performance are in, and low doc and no-doc loans are a hot topic.At last count, more than a third of the 400+ submissions received related to low-doc and no-doc loans.The latest submission, by Rocco Cassaniti, hits out at ASIC for failing to act after he alleges incomes were “grossly inflated” in their low-doc loan application in order to secure funding. “Simply these matters are shrouded in legal protection for banks, hurting the livelihood of the unsuspecting citizen in the process,” wrote Cassaniti.“With so much evidence against bank inappropriateness, why do we have an organisation who does not protect the consumer?”A further common theme amongst the submissions was the collapse of Trio/Astarra, which was mentioned in 20 submissions. The failure of Storm Financial received 11...
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  • doyla66
    doyla66 says #
    Ho Hum! Are our banks into this evil insurance rort along with their big bad US cousins? Read a few very interesting articles to
  • doyla66
    doyla66 says #
    I have always thought that Brokers whether insurance, mortgage, financial were a created industry and totally unnecessary. All th
  • doyla66
    doyla66 says #
    As usual Neil your points are well worth a read. I just noticed your first blog regarding the Broker blaming the customer for infl
  • doyla66
    doyla66 says #
    Well done Denise, I've just viewed some of your comments in The Australian Broker news where you have tried to enlighten them on h
  • doyla66
    doyla66 says #
    ASIC as it now stands is a joke and a hurdle to foreign investment in Australia. For years overseas's investment have complained t
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Here we go with new submissions to do ready for January and not one consumer driven member or those who have even met a consumer victim!  It’s the BANKS R US BRIGADE.  MURRAY’S MARAUDERS.   Bring on the Royal Commission into Banking........ Forget this attempt at a whitewash.   I wonder if any of these people have met or spoken to an aggrieved consumer?   They will see BANK INTERNAL FRAUD but what will they really do?   Bankers inquiring into Banks.   ASIC admit SELF REGULATION means NO-ONE is LOOKING at Banks day to day activities and the manufacture of intentionally deceptive products.   ASIC "assume" Banks are looking at their own INTERNAL FRAUDS that all admit exists.  Its called a Cover-Up.   BFCSA has long called for a powerful banking ROYAL COMMISSION and instead we end up with a Mates Inquiry being hi-jacked by the Bankers.    Australia DownUnder?...
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  • doyla66
    doyla66 says #
    I think Mr. Hockey has been enticed by the devil himself for he sure has not heeded warnings from we who foolishly were all so ver
  • doyla66
    doyla66 says #
    Wow, this is horrible..I am not a political person, not a financial analyst nor work in the corporate world ..am just a plain labo
  • doyla66
    doyla66 says #
    Sorry Lisa but i disagree with respect as i believe that Joe Hockey knows exactly what's going on as he is an ex banker (correct m
  • doyla66
    doyla66 says #
    Joe only has a limited understanding of the Loan Fraud EDR situation. After all he's briefed by the airheads at ASIC, who have nex
  • doyla66
    doyla66 says #
    Mr Hockey, your choice of committee members evidently shows your true colours and so far you have not displayed any respect or con
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Dear Rupert,  By trying to use your media stronghold in Australia to manipulate how people vote is not very clever.  It is showing your Bully Boy tactics once again and, the United Kingdom has shown they have indeed had enough of your nonsense: cheating, lying to Parliament, thumbing your nose up at anyone that disagrees with you.   Your own arrogance cost a lot of decent UK people their jobs.  Now you want to meddle in the election of Government for Australia?   You are using Freedom of Speech as a weapon created by an obvious dictatorship mentality that you believe is your birthright.  Sorry, Mate but it's not a good look.  In fact the entire episode is an embarrassment to those you support. Had you used your influence to dig into the world wide Banking Cartel that created dirty mortgage loans, developed with matching inappropriate lending practices (more cheating) you...
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  • doyla66
    doyla66 says #
    I'm wondering how Mr Murdoch might enjoy sending his finest investigative reporters undercover in ASIC? or maybe APRA or AOFM? Ho
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Dear members When my wife and I started this quest for justice John Howard and Peter Costello had the top jobs.  Since then we have had a merry go round of P.M.'s and Federal Treasurers and this could change again pending the outcome of the September election. Since 2007 one thing has not changed, the leadership of both parties will not acknowledge there is a systemic problem in the Australian financial sector. ASIC denies there is a problem yet both parties leadership know from internal information a problem exists, I even have a copy of a letter where Tony Abbott made representation to the Attorney General on this very matter for a BFCSA member in his electorate. Everyone on this site has been pleading with our politicians and regulators for justice with no response at the top. As citizens of a democratic country we have been denied the basic fundamental right...
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  • doyla66
    doyla66 says #
    Great post, Neil. What a long journey it has been for you and your wife! You'd have to be asking why it's so difficult to get a
  • doyla66
    doyla66 says #
    Neil, job for Geoffrey Robertson QC who sat as appeal judge @UN Special Court for Sierra Leone; currently defending WikiLeaks Assa
  • doyla66
    doyla66 says #
    Dear members I forgot to mention as well as the Senate Committee , maybe we should make submissions to the U.N. If we are denied o
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