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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 Senator Sam Dastyari
Big banks back overhaul of advice industry but baulk at funding compo Banking and Finance Date December 14, 2014 - 3:33PM Clancy Yeates http://www.smh.com.au/business/banking-and-finance/big-banks-back-overhaul-of-advice-industry-but-baulk-at-funding-compo-20141214-126rt9.html After a year of turmoil in financial advice, big banks are supporting the creation of a public adviser register, more disclosure of licence ownership, and tighter rules on who can call themselves an adviser. Yet the industry is at odds with the Financial Ombudsman Service over its call for a industry-funded "last resort" compensation scheme for victims of bad advice. New submissions from the Commonwealth Bank, Westpac, Macquarie Group and AMP support the government's plan to give consumers more information about an adviser's history including any bans, their qualifications, and the company that is employing them. The submissions have been made to a Senate committee investigating the level of consumer protection for financial advice clients, an issue that has come to the fore after the government's move...
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  • Louie2U
    Louie2U says #
    FOS always was a toothless tiger. It can make any recommendation it likes but when it has conflicted interests operating within it
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For those who use social media - the banking issue is an important tool for sending a clear message to banks and to the Prime Minister. Ask why the PM is ignoring the Senate Inquiry into ASIC, which recommended a Royal Commission.  BFCSA is the only group who asked for a Royal Commission.  The CBA FP victims did not do so despite having a great number of witnesses attending the Hearings in February. Become involved.  You have 22 days left to file your submission to the Senator Sam Dastyari Inquiry - deadline December 5th. If a Manufacturer deviously made cars with wheels that fell off....there would be public outcry, a governmental demand to recall all cars................The Government would not chase after the sellers of the cars when the Manufacturer is obviously to blame.  Why is the Abbott Government determined to go after the sellers of faulty financial products?  To protect the...
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Victims seek olive branch from ANZ over Timbercorp collapse DateNovember 8, 2014 - 12:15AM 84 reading now Read later Adele Ferguson and Ruth Williams     inShare submit to reddit Email article Print Reprints & permissions   Cracks in the Timbercorp juggernaut started to appear even before the Australian Tax Office cracked down on agribusiness schemes. Photo: Andrew Quilty  "Hmmn! At least this hasn't shaken my view as to the extent to which banks can f*ck you over and why bank debt should always be the least preferred option." So wrote Timbercorp boss Sol Rabinowicz, in an email to his chief financial officer John Murray in October 2008. The global financial crisis was in full swing. In Australia, Storm Financial was on the brink of collapse and a group of whistleblowers at Commonwealth Bank's financial planning division were preparing to blow the lid to the Australian Securities and Investments Commission (ASIC) on a widespread...
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  • Denise
    Denise says #
    This constant denial from staff PROVES only CEO and top exec's were the engineers of the fraud. It is so clever the staffers in a
  • Geoff
    Geoff says #
    Had a call from my ANZ Branch wanting to see if my accounts were the best for me. When I told the lady about all the LAF fraud on
  • Wayne
    Wayne says #
    I asked ANZ local manager the other day is there any way I could get finance without showing my figures or filling out an applicat
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Thanks to all those who lobbied for this to happen.....well done.  Now for the SUBMISSIONS: The Senator has announced another Senate Inquiry into Planners and ASIC and bad financial advice.  Start drafting your submissions!!! That collective push has been responded to……………………… our collective 16th Inquiry will lead to a Royal Commission. Remember that Senator Mark Bishop Chair of Inquiry into ASIC said “Royal Commission into Bank….namely CBA.”  We want Senator Dastyari to hammer the Financial Advice to Consumers Inquiry to run amok with all those who invested funds on behalf of financial planners and then you will find the Bad Banking Sector at the top of the pile re DEVELOPER AND CONSTRUCTION LOANS, using promotions via the Planner and Broker Channels.  Why?  To prop up the DISTRESSED PROPERTY problems and make Mums and Dads, retirees and pensioners and low income families pump up the property market and TAKE ALL THE RISK!...
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  • Magie
    Magie says #
    Aries says" Banksters beware we are coming after you." I love your comment, we are growing by the day and some time soon someone w
  • Magie
    Magie says #
    Aries says" Banksters beware we are coming after you." I love your comment, we are growing by the day and some time soon someone w
  • Magie
    Magie says #
    Aries says" Banksters beware we are coming after you." I love your comment, we are growing by the day and some time soon someone w
  • Magie
    Magie says #
    Aries says" Banksters beware we are coming after you." I love your comment, we are growing by the day and some time soon someone w
  • Jetfighter
    Jetfighter says #
    We will have our day.
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