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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 FOS notifies FOFA re ASIC negligence
http://www.fos.org.au/custom/files/docs/submission_future_of_financial_adive_legislation_senate_fofa_sen_elc_jan_12pdf.pdf  Our Gladys is busy digging into FOS Reports - wonder what happened to those complaints and outcomes and what happened to the Directors?  We know what ASIC do - bleedin nothing and hence why ASIC is subject to 2014 Inquiry.  We should have mandatory Inquiry into ASIC every year until they start understanding corrupt behaviour is not acceptable. page 7  Phoenix Activity   In the course of our dispute resolution work, we see Phoenix activity.  Where this occurs, consumers can be left with unrecoverable losses while the financial advisors responsible for the losses can continue to provide advice.  Over the past two years, we have identified four cases of Phoenix activity that affected about 125 disputes.  There are many forms of Phoenix activity.  One example is outlined below and a case study is also provided:    Example of Phoenix activity   A large number of disputes against one licensee are...
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  • doyla66
    doyla66 says #
    ASIC may be enabled to deal with Phoenix Companies but what do they do in reality? Well it probably depends on how many people are
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