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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 Big Reveal into Banking Fraud
For Consumers dealing with ASIC, its fraught with TENSIONS AND FRUSTRATIONS.  Senators exasperated by the same mumbo jumbo from ASIC luminaries.  Our Members have all been down that road!!!!  ASIC has no idea what "critical risk" is in relation to consumers.  It will protect our wretched and deceitful Bankers at any cost.   COST of ASIC's do nothing approach being $400 million per annum.........................great protection racket!   Is it any wonder that ASIC is now the subject of the Senate Inquiry into the regulators own nefarious activities.    This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.smh.com.au/business/cba-faces-broader-compensation-payouts-at-asic-inquiry-20140605-39lx5.html CBA faces broader compensation payouts at ASIC inquiry BusinessBanking and Finance June 6, 2014 Adele Ferguson   In another twist in the Commonwealth Bank financial planning scandal, Senator Mark Bishop asked the corporate regulator to consider imposing further conditions on the bank's licences to force it to broaden the compensation program to the customers of financial advisers who had been identified as a ''critical'' risk...
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http://www.abc.net.au/4corners/stories/s72783.htm Australian Broadcasting Corporation FOUR CORNERS Investigative journalism at its very best TV PROGRAM TRANSCRIPT LOCATION: abc.net.au > Four Corners > Archives URL: http://www.abc.net.au/4corners/stories/s72783.htm Broadcast: 10/03/97 Banks Behaving Badly This program reveals why the banking industry has lost our trust and how some banks bend the rules and break the law. We reveal a bonus system which rewards bank officials for forcing businesses to the wall. Bank malpractices are revealed and the devastating effect that these have on the lives and businesses that are affected by them. --------- Reporter: Andrew Fowler Producer: Ashley Smith Research: Meena David Bob Allen, Accountant: It's the biggest bit of bastardry I've ever seen in all my commercial life Andrew Fowler: After more than a decade of free-market deregulation Australia's banks are out of control...............   Diane Felkin, Former Advanced Bank Customer: One of the gentlemen actually said f you don't do it my way you're...
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Big four dilemma looms but failure is not an option Georgia Wilkins April 18, 2014 ''This is not an unfair tax on our largest banking institutions' says Louise Petschler of COBA. Five-and-a-half years ago, amid the financial strife unleashed by the collapse of Lehman Brothers, the US government stepped in to bail out financial institutions across the US โ€“ deciding the risk of moral hazard was preferable to an even greater financial calamity. The outrage flowed from large sections of the US public โ€“ why should the apparent architects of the crisis be saved from their own mistakes? In Australia, amid mounting rumours of a run on a second-tier bank, the Rudd government moved quickly to guarantee all bank deposits up to $1 million. It was enough to stem any panic โ€“ and cost taxpayers nothing. The guarantee still stands for deposits up to $250,000. But it is not clear how...
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ASIC is suggesting yes there were sub prime loans prior to 1 July 2010.  In fact our regulatory gurus advised Government in 2007, "Houston..... we have a bit of a problem here with Full Docs and Low Docs."   Parliament responded with a raft of changes to laws and gazetted the new NCCP laws in 1 July 2009. BUT for the hapless borrowers in circa July 2009 to June 2010.....ASIC decided to give the Banks a little moratorium on prosecuting Banksters and permitted the Low Doc Scam to continue until 1 July 2010. ASIC has not a clue how to deal with consumer protection.  It only knows how to protect rackets run by Banks, including the four majors.  ASIC told the banks: "we will give you a bit of a holiday to continue to write loans, but just try and clean up the dodgy paperwork during the coming 1`2 months, or...
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  • doyla66
    doyla66 says #
    A borrower was offered a mortgage contract in 2012, in effect a refinance for the same amount. The borrower lacked the income to m
  • Denise
    Denise says #
    Hi Geoff, I wish to speak with you about this. Please contact me. I note that someone else from that email also has a similar i
  • doyla66
    doyla66 says #
    Ummm but mine was before the moratorium [2006] so what does the 'Willbees' of ASIC do? As usual they ignore the problem - - put i
  • doyla66
    doyla66 says #
    My ANZ Loan is from September, 2010. More lies from ASIC. They had be send them everything I had from ANZ, including the Skippy Fo
  • doyla66
    doyla66 says #
    Geoff, BFCSA-members' collective banging of hard heads shall dismantle any "Wall of Denial/Cover-ups" by A~SIC watch puppy, which
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How did the Banks have so many people contributing to their part in the biggest crime of the century?  How did Banks manage to keep all the 20,000 key players and thousands more internal staff like mushrooms? We know how the Sub Prime Low Doc Scandal trapped so many Australians.  We know why the regulators looked the other way for 14 years.   We have uncovered their secret weapon...............we have the evidence.   Just watch this space.  I am time poor so the actual loading and preparation takes time.  We have no funding and no paid staff but we are kicking goals.  For the doubting Thomas's we have the goods. For all those who have received letters from ASIC, APRA, AFP, FOS closed file letters and COSL "its fraud so cannot assist" - closed file letters.  PDF and sanitize and send to me.  We call them bugger off letters. BIG REVEAL...
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  • doyla66
    doyla66 says #
    s.25, Code of Banksters' Practice: "Get your (unsuitable) facts first, then you can distort them as you please."--Mark Twain
  • doyla66
    doyla66 says #
    .... Coz no ones going to see them buried in the lost Banker files! So the whole plan to get rid of the Bank credit evidence and
  • doyla66
    doyla66 says #
    I remember current affair programs depicting happy people using equity to buy investment properties, now i'm wondering if they wer
  • doyla66
    doyla66 says #
    They were actors, Maria. Occasionally they used real clients but if we had watched their eyes we would have realised that they wer
  • doyla66
    doyla66 says #
    I've often wondered how the Banks coerced, convinced or conned so many so-called intelligent, educated, law-abiding and aware peop
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The Australian Federal Government must approve a Royal Commission into the Banking And Finance Sector What we already know and have the proof of:--  The issue is a giant fraud involving between  $57 Billion and $100 Billion. A devious business plan was devised and executed by the Banks 36 lenders including the Majors in the mid nineties here in Australia.       Set patterns emerged and we have emails between the lenders staff and brokers which we have decided to load onto the LINKS in "Breaking News" at the top of the Home Page.  See above. ยท         The victims are left with impossible lifetime of debt and they have painstakingly listed the discrepancies/fraud on their Loan Applications.  These were fudged figures devised by a service calculator and not by the Broker/Planners.  BFCSA will reveal more details next week. O     BLOGS on this site from JJ are relating to American laws....
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