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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 Superannuation Scams
http://www.macrobusiness.com.au/2014/07/kohler-slams-the-super-gravy-train/ Posted by Unconventional Economist in Superannuation July 22, 2014 By Leith van Onselen Business Spectator’s Alan Kohler has written a stinging critique of Australia’s superannuation system, slamming the high level of fees due in part to compulsory contributions and the lack of price regulation: A chart in the Financial System Inquiry’s interim report shows that since 2009 the average super fund has increased in size from $1.5 billion to $3.5bn, while the average fee has fallen from 1.3 to 1.2 per cent.  That means the average fees received by each fund have doubled from $20 million a year to $40m.What better business can there be? Contributions are mandated by law so that about $100bn a year pours in; there are few variable costs (costs are mostly fixed); and there is no regulation of prices, so they are determined by competition alone.  Superannuation is the only utility that you are required by...
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http://www.smh.com.au/business/banking-and-finance/tax-leakage-multimillionaires-exploiting-superannuation-20140522-38po9.html   'Tax leakage': Multimillionaires exploiting superannuation Banking and Finance May 22, 2014    Agnes King Accountants and tax advisers have blown the whistle on multimillionaire clients exploiting tax concessions in self-managed superannuation funds, urging the federal government to act against "tax leakage".  Analysis by Fairfax Media of Australian Taxation Office statistics shows almost 9200 self-managed super funds have a balance of more than $5 million, a rise of 76 per cent in the past three years, and the number of funds with over $10 million has doubled.  Treasury Secretary Martin ­Parkinson said on Tuesday that there should be a debate about whether the super system was creating incentives for people to ­manage their retirement incomes or whether it was being used as a wealth creation tool.  "The issue is whether the existing super system actually is a retirement incomes system . . . or is it a wealth creation tool? If it's...
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  • doyla66
    doyla66 says #
    "The issue is whether the existing super system actually is a retirement incomes system . . . or is it a wealth creation tool? If
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