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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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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 Loan Application Fraud
My own GP and staff will be asking their bank on Monday - "Where is my copy of my LOAN APPLICATION FORM ("LAF") its only 11 pages and we are entitled top a copy as it contains our signature?"   Whether FULL DOC or NO DOC dummy loans dressed up as LOW DOCS........ no-one has copies................... Ask teachers at the local school:  "Have you got a mortgage and if so were you given a copy of the LAF when you signed?  No?  Then ring up and ask for a copy.  Be prepared for a shock." Ask your local garage mechanic..................your colleagues..............your grandchildren's swimming coach......................neighbours.............your dentist, have their children got mortgages?  Ask: Do you have a friend with a mortgage? They will all say:  Thanks for the TIP.  No-one has a copy of the LAF in their files........................ 2014 will be the year of everyone demanding a copy...........................so start becoming very busy BFC'er. If...
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  • doyla66
    doyla66 says #
    Once I did have 2 – one with ANZ and one with Colonial – Colonial stolen with my wallet and somebody went on a fast spending spree
  • doyla66
    doyla66 says #
    and what about being tricked into thinking you can TRANSFER ALL debt from old credit card to new one at reduced rate for limited t
  • doyla66
    doyla66 says #
    When my house was proving so difficult to sell I went in to talk to my Bank Manager for funds were then running low and despite tr
  • Denise
    Denise says #
    A little known secret.............All Major Banks were flogging credit cards and several bank staff members of FSU complained to t
  • Denise
    Denise says #
    My Comment: Hopefully the Police will go after the Lender internal staff who approved the loans. Its takes two to tango. Some bad
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UK Lawmakers Call For 'Reckless' Bankers to Face Jail   Published: Wednesday, 19 Jun 2013 | 1:43 AM ET Britain should introduce laws making it possible to jail "reckless" bankers and claw back past bonus and pension awards, an influential panel of lawmakers said on Wednesday. The Parliamentary Commission on Banking Standards, set up by the government last year after Barclays was fined over the manipulation of global interest rate benchmarks, said deep lapses in standards had been commonplace and recent scandals had exposed "shocking and widespread malpractice".  "Taxpayers and customers have lost out. The economy has suffered. The reputation of the financial sector has been gravely damaged. Trust in banking has fallen to a new low," the commission's chairman Andrew Tyrie said in a 500- page report.   The cross-party group, which includes former British finance minister Nigel Lawson and Justin Welby, head of the Anglican church, recommended senior bankers...
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  • doyla66
    doyla66 says #
    Lisa, law-makers must apply commensurate custodial sentences upon any would be "home-thief" no less than a "bank-thief" & they are
  • doyla66
    doyla66 says #
    Yes, Andy. I was wondering how they figured it out. Looking at the broker case there was a fine x number of counts plus jail. I t
  • doyla66
    doyla66 says #
    Why, indeed, Denise? If Australia follows on track with public sentiment and overseas trends there will be bank staff and senior
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'Loan fraud' - but no investigation June 5, 2013 - SMH Michael West                                            Lenders accused of 'systemic fraud' Consumer activist Denise Brailey has countered claims from the corporate watchdog that she had failed to provide documents for them to investigate low-doc loan fraud. Australian Securities & Investments Commission deputy chairman Peter Kell told Fairfax Media and the ABC this week that ASIC had invited Ms Brailey to “provide evidence of the systematic loan fraud she alleges”. “The very limited material provided to date simply does not support any of the claims she makes,” said Mr Kell. However, Denise Brailey has confirmed that more than 100 of the members of her action group, all alleging loan fraud, had filed complaints with ASIC only to receive a form letter saying there would be no...
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  • doyla66
    doyla66 says #
    Totally stupid. Like Kell's effort in Senate Committee this week. Kell would have thought, "That went well." - I kid you not. Kel
  • doyla66
    doyla66 says #
    "Suppose you were an idiot, & suppose you were Deputy-Chair of ASIC; but I repeat myself." Mark Twain: The proverbial Fox looking
  • doyla66
    doyla66 says #
    Thankyou, Andy. I wondered where Kell got his experience. And then, who was advising him that this was the way to handle Denise Br
  • doyla66
    doyla66 says #
    Mistakes on 1200 lafs and counting - what are the chances that they have made a mistake on everybodies income and occupation 1200
  • doyla66
    doyla66 says #
    Good stuff FOS have been saying that the errors on the LAFs are "mistakes". So are they deliberate "mistakes" or accidental? An a
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AT LAST THE BIG REVEAL - Use above LINKS to Evernote Michael West and the Sydney Morning Herald have broken the barriers in revealing the nature of our concerns with the Major Banks and Low Doc Lending.  We simply asked Mr West to report both sides of the argument:  “is the evidence we have collected, merely marketing, or are there more sinister signposts to wide spread looting of homes and assets by the use of Low Doc and Full doc loans?” We are asking the public to be the Judge, in the absence of any assurances by Government to agree to a Royal Commission into the Banking Sector. The results of BFCSA’s investigations over the past four years can at last be revealed.   With the assistance of Michael West, the SMH and our voluntary team, the final pieces of the jigsaw will be revealed this week.    Despite the Australian Securities and...
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  • doyla66
    doyla66 says #
    Yes.... Noice alright!
  • doyla66
    doyla66 says #
    Simply BFCSA O'Gate
  • doyla66
    doyla66 says #
    How about Bankgate or Mortgage-gate? How about the evidence? What a shocker! As if the LAFs from the Banks weren't bad enough. R
  • doyla66
    doyla66 says #
    Wikibfcsa-leak has a nice ring to it!!
  • doyla66
    doyla66 says #
    Noice
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