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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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BFCSA: Australian Major Banks - a GIANT PONZI preying on vulnerable and disabled, abusing brokers with clawbacks. ASIC said nothing for 15 years!!!

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The Four Major Banks preyed upon Low Income families and targeted ARIPs (its in their promotional material) ASSET RICH AND INCOME POOR.  Some of the vulnerable were disabled at the time of the lending and are disabled now in their battles with these heartless greedy banks.  Pensioners and Battlers - everyone was fair game and Brokers taught by BDM's banks will loan to anyone who asks.....................but especially older persons who own their own home.....banks are just HELPING PEOPLE!!!!

Westpac and RAMs were perhaps the worst of the worst.

It all sounded so innocent.  Now Brokers are coming forward and realising they have been done over by banks and clawbacks.  Loans last only long enough to see the commissions being clawed back. More lives in ruins - all except Bankers of course.

A decent Broker explained what we hear often: "The motivation for moving into the mortgage broking area was first-hand experience in how badly my clients had been cared for in this area. The more involved I become the more horrified I get at what can only be described as 'standard practice' within the industry"

ASIC have known for over a decades that Brokers were being taught a FINANCIAL STRATEGY to make believe people they could afford these loans.  The Brokers were so indoctrinated they believed the Bank marketing material also and took out unaffordable loans believing the SERVICE CALCULATOR engineered by the Banks told them "Loan is Affordable."  Many ex brokers' lives are in ruin.  We know!!!!

As in any good scam the promoters/engineers/manufacturers made all the criminal profit.  Brokers Channel and Consumers lost years of work and suffered intolerable heartache.  The new recruit Brokers have no idea the agony that is to come.  So clever was this scam it was easy to either hoodwink the dumb corporate cops - or pay them off. There are no excuses for ASIC standing on the sidelines of the most monstrous scandal to ever hit this nation.

Westpac was one of the leaders of the game.  The evidence from 2002 onwards shows the intended profit from FRAUD.  Westpac and its fellow bank bandits rode into town with one aim: "to rob the people."  The Banks knew the hapless Borrowers and Brokers had no chance of defending themselves.

Banksters knew that Brokers were unqualified, unlicensed to deliver FINANCIAL ADVICE.  The banks developed the STRATEGY, the BDM system of training and the hype and selling tips.  The banks paid everyone off as if a drug cartel. The Banks knew the illegality of intentionally developing a financial strategy that would alter people's lives in such a devastating fashion, that no-one caught in their web could financially survive.

For these reasons we have strongly believe certain ASIC people were paid off by the Bankers.  A scam cannot go undetected for so long.....a 30 year loan and the bank then tells ASIC "most loans are settled within 3-5 years."  

ITS A SCAM!   These are not settled, ASIC EDR's external complaint resolution systems ie Ombudsmen are paid by the Banks to deliver favourable results and many loan disputes are "settled" with say $5000 discount on debt!!!!  

During the last six months FOS has changed its system via a contrived TEST, as a fast track whereby one determination is made for a "take it or leave it bullying tactic.  The average loan with buffers and Lines of Credits rose from $300K (to buy investment property) to $600K average and the limits with FOS are less than $280K with few cases even enjoying that type of "settlement".  Banks pay the EDR's $5000 per complaint.  Nice little earner for FOS and COSL.

NO-ONE is investigating the Banks.  There are no public servant heroes at ASIC - not one!!!!!   Everyone behaves like trained Monkeys, with seven lined up in front of the Senators and only three allowed to speak.  Its a SHAM.

My own evidence was chopped in half and moved forward, so people that took the journey to hear me missed the entire event.  I could see what was happening and my Intro was cut short twice.  I could only deliver the model of the SERVICE CALCULATOR which to me was the most important evidence, after one Senator said: "I think its a calculator relating to fees and interest."  ASIC must have been giggling over that one.

We need a Royal Commission into Banks.  If anyone had any doubt over child abuse and George Pells' disgraceful effort yesterday, he would get on well with Greg Medcraft and Peter Kell for obfuscation.

Banks have been abusing the elderly and disabled for years and getting away with it and its about time the Australian Federal Government started top clean up all towns in Australia.  

We have plenty of laws, plenty of regulations, but no appetite for enforcement of law.  Medcraft would not understand the meaning of enforcement of law.  He only understands cover-up of criminal activity.  He has tried to paint the Bank criminal activity as a civil DISPUTE!!!!!!  He speaks of idiotic gamekeepers and then says the gamekeeper system is not working.  Excuse Me?     Did you, your family or your mates lose their homes in this scandal Greg? NO?  I thought not. You think people need educating for being what you call behind closed doors "stupid" for not understanding the magnitude of the scam?  I think not.

There will always be crooks in white collar crime sprees, but the real culprit are those in high office who ignore the basic evidence, fail to investigate and then progress to cover-up stance, and that's about where you are now.

Medcraft is now asking merchant Bankers from Europe and America and Britain for advice and advising Treasurer Joe Hockey to have a chat with Greg's Global Buddies.  Australians will wake up and you can bank on it Greg.  It's too hollow to suggest this nonsense in any way resembles the truth.

Complaints from low income families, loaded up with debt, at the mercy of greedy criminal minded bankers are piling up (7,000) at FOS (Major Banking Ombudsman).  

We started with 66 members five years ago now we are heading for 2000.  All the loans from 2010 onwards are now coming in as predicted (and intended).  The Inquiry into ASIC has submissions mostly about BANKS and, ASIC's gross negligence re complaint handling and protecting Bankers, has produced a record 431 submissions.  Had there been more main stream media, many more would have come forward instead of suffering in silence.

The Four Majors rode into towns across Australia, as they did in America, intending on bleeding every citizen dry of every asset they own, and no-one it seems wants to investigate.  These Banks have made raping pillaging and plundering a new kind of art-form and watch for the fallout in relation to our economy.  We have all been fed fudged figures and regulatory diatribe.  No doubt about it.   This email address is being protected from spambots. You need JavaScript enabled to view it.

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  • doyla66
    doyla66 Tuesday, 25 March 2014


    Spot on Denise, banks and lenders are low life for inventing a system that has been virtually undetectable until you come along. They change every bit of financial and employment history of intended borrowers in our case 10 fold and by the way it was RAMS, just to justify granting of loans and in doing so once that fraudulent laf goes through the lenders approval stage the trap has been set and sprung. All they have to do then is wait for anywhere from 3-6 years and bingo they win. Borrower loses home and everything worked a lifetime for including ones sanity. Time for government to wake up as this will cost the government plenty in welfare and medication for broken souls.

  • doyla66
    doyla66 Tuesday, 25 March 2014

    Well engineered, well executed and above all well protected.

    On behalf of all the BANKS OF AUSTRALIA we would like to say not from the bottom but from the very top of our hearts a very warm thank you and the very kindest of regards for without you we could not have achieved the greatest heights of criminal misbehaviour, massive fraud and general raping an pillaging of commoners bank accounts that you allowed us to achieve.
    So it is with almost a tear in my eye (if I had feelings) that I extend this gloved hand (thieves always wear gloves) of gratitude to you the BANKS FRIEND AND CONFIDANT and advisor of taking questions on notice SO THANK YOU from all of us Bankers and all of us DUMB BROKERS that havnt worked it out yet, Thank you Thank you Thank you ASIC.
    Your Mission Statement will hang proudly on our wall to remind us forever of how bloody lucky we were that its only you guys overseeing our sneakiness and not someone who cares.

  • doyla66
    doyla66 Tuesday, 25 March 2014

    Most of them haven't got the stomach for sending white collar workers to jail, even though the grubs have destroyed lives and livelihoods as a matter of course: Criminal business as usual. I'm appalled at the apathy amongst our Federal government over crime and the enforcement of our laws. It will be up to the State Police and political leaders to show them how. They're brave enough to take on the bikies, who they see as outlaws in our society. But will they put the necessary funding and manpower resources behind restoring law and order to the Banking and Finance industries on a state by state, case by case basis? We're hoping and praying they will, or this country is stuffed.

  • doyla66
    doyla66 Friday, 28 March 2014


    Westpac/Rams perhaps worst of the worst. I realise all banks and lenders are in on this this fraud, they all had to be for it to work and for dumb ASIC to try and sweep it under the carpet. You must also remember that these toxic mortgages were designed to give Medcraft and Kell their claim to fame with RMBS packages sold to unsuspecting investors. No wonder they are not protecting consumers as if they did there would be a lynch mob after the ASIC heads.

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