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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 royal commission int the banking sector
Financial bets belong under the Gambling Act The Drum By ABC's Alan Kohler http://www.abc.net.au/news/2012-09-26/kohler-financial-bets-belong-under-the-gambling-act/4281318 Updated 27 Sep 2012 Punters often don't realise they are being sold risky bets in the name of "securities", writes Alan Kohler. And when their bets fall, their money disappears. I no longer think derivatives should just be banned. I now think they should be treated as gambling, and then banned.  That is, CFDs, CDOs, SCDOs, CPDOs, CDS and all the various other acronyms that might masquerade as financial instruments should be brought under the Interactive Gambling Act (2001), which makes it an offence to offer "real money" online gambling to residents of Australia. Sometimes financial derivatives are used by those who have a genuine trade or credit exposure to hedge or offset, but most of the time - the vast majority of the time, in fact - they simply involve a bet, made by a punter,...
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ASIC probes Commonwealth Bank over financial planner forgery Adele Ferguson, Ben Butler August 09, 2014 Adele Ferguson: Relations between ASIC and CBA worsen over handling of rogue financial planner ASIC puts CBA on the hook over planning scandal http://m.smh.com.au/business/asic-probes-commonwealth-bank-over-financial-planner-forgery-20140808-1020zn.html The corporate watchdog is investigating the Commonwealth Bank for failing to come clean about a financial planner who allegedly forged client signatures.  As CBA and ASIC slug it out, the West Australian planner Stuart Jamieson was expelled by the Financial Planning Association (FPA) on July 23, a month after it launched an investigation into his conduct.  A BusinessDay investigation can reveal Mr Jamieson was allowed to resign from the bank’s scandal-ridden advice division, Commonwealth Financial Planning (CFPL), in May 2012 rather than being sacked when allegations of misconduct were uncovered in an internal investigation.  Mr Jamieson’s voluntary departure from CBA meant he was able to go on to two further jobs in...
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  • Denise
    Denise says #
    How can ASIC say it knows nothing about the forgery until last month!!! Chairman of senate Inquiry grilled ASICKERS and CBAS lawy
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Posted by on in Fraudulent Loan Apps
PRESS RELEASE:   Banking and Finance Consumer Support Association (Inc)    BFCSA (Inc) Condemns Senate Report For Failing To Call For A Royal Commission Into the Australian Banking Sector.   28th November 2012.  Award-winning consumer advocate and President of the BFCSA, Ms Denise Brailey, says the Senators’ decision not to recommend a Royal Commission into the Australian banking sector is a crushing blow for the thousands of people, including pensioners and retirees, who have become victims of bank fraud and lender maladministration, relating to Low Doc and No Doc lending.   The Government cannot profit by fraud and the public must be assured, that what it has invested taxpayers’ money in, is not tainted by fraud, that it is secure and that the securities had been checked before the RMBS tranches were purchased.     The validity of the loan application falsification remains unknown, in relation to the Low Doc mortgages...
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  • doyla66
    doyla66 says #
    Govt can "afford" to give ASIC an extra $100 million but can't afford a Royal Commission into Fraud. ASIC to investigate with BFC
  • doyla66
    doyla66 says #
    Could we have expected anything less with a federal election looming (and it's probably closer than you think)? Those pollies are
  • doyla66
    doyla66 says #
    Can they announce two Royal Commissions in two weeks? Just wondering whether that may be a reason they went against another one.
  • doyla66
    doyla66 says #
    Executive summary. The key finding of the committee is that an independent, well-resourced and comprehensive inquiry into the Aust
  • doyla66
    doyla66 says #
    Why is it that thr recommendations begin at 3.1?
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