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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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BFCSA have lobbied long and hard for an Inquiry into ASIC, calling for one in 2001 as RECA.  Greg Medcraft Chairman of Australian Securities and Investment Commission, and also Chairman of IOSCO (International Org of Security Chiefs) has hit back at his critics of which our members are staunch by experience in their criticism of ASIC.   In fairness, we are happy to record Mr Medcraft's views of his own leadership and staff.  We do note however, that a boast of recovering $345 million, is embarrassing as over $400 million was lost in Westpoint, which ASIC sat on like a Mother Hen and did nothing for five years until its collapse.  It also fails to quantify the absolute losses ASIC has recorded as being well over $80 Billion, whilst ASIC slept.   Medcraft boasts that ASIC has banned 168 people in 3 years.....no LENDERS MENTIONED.   No criminal charges to assist in...
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  • doyla66
    doyla66 says #
    Mr Medcraft must be really silly to boast about stats like that without doing the sums... (well done Denise!!) What a joke! No won
  • doyla66
    doyla66 says #
    Just running for cover it appears. Imagine giving out terrible percentages like that. I think Mr. Medcraft would be ashamed of h
  • doyla66
    doyla66 says #
    ROFLMAO ASIC! We've said it before and we'll say it again: ASIC did it - we just reported it No extra effort required: just writ
  • Denise
    Denise says #
    5 elite ASIC staffers were given the task of compiling the "close to zero %" results for ASIC in their three submissions to Parlia
  • doyla66
    doyla66 says #
    In another similiar article -'We see cyber crime as a key risk not only to the markets we regulate but to the stability of the glo
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ASIC chief's overseas trips draw criticism Adele Ferguson, Ben Butler and Ruth Williams November 23, 2013   The AGE Globetrotting... Greg Medcraft's travel this year. Scrutinising ASIC: Watchdog or toothless tiger? Paris, New York, London and St Petersburg are among cities visited by Australia's top corporate regulator, Greg Medcraft, during extensive taxpayer-funded travel that has caused him to miss crucial parliamentary hearings into the Australian Securities and Investments Commission. A Fairfax Media investigation reveals Mr Medcraft has spent at least 51 days overseas in the first 10 months of this year, not including the time spent travelling to and from Australia. He flies business class, funded from ASIC's budget. Mr Medcraft, who has already drawn fire from Finance Minister Mathias Cormann and Defence Minister David Johnston, was in the Russian city of St Petersburg during a Senate hearing on June 5 that sparked an inquiry into the performance of ASIC. ASIC is...
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  • doyla66
    doyla66 says #
    Greggy has to go overseas to get his glory because he is a laughing stock in his home country Australia.ASIC is still dysfunctiona
  • doyla66
    doyla66 says #
    It just so happened that i mentioned to a media manager this week, that Greggie's US Securitisation Program cost US citizens $11.9
  • doyla66
    doyla66 says #
    Wow! Not a bad job.!!!! Guess it doesn't matter really, he has a lot of UNSKILLED workers within ASIC who can hold the fort. prob
  • doyla66
    doyla66 says #
    When the going gets tough, Greggy goes globetrotting! Tell him not to bother coming back. I'm sure we can manage without him. ASI
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