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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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BFCSA: BIG Questions to FOS, COSL and ASIC. Fraud & Forgery from Banking Cabals show CRIMINAL INTENT

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My files are FULL of evidence from people with legitimate claims of Maladministration in Lending amongst the Major Banks - registered as FOS members.  No-one better tell our members there is not a problem in Australia.  At least BFCSA was on the money when it told all members to demand the FAXED copy of the Loan Application form. 

A key INDICATOR OF FRAUD IN THE BANKING sector materialised when NAB WESTPAC, ANZ and CBA started to SHRED DOCUMENTS.  Yet the Australian Securities and Investment Commission bleated to Federal Parliament they could find no evidence of fraud!"  Corrupt or incompetent?  YOU be the judge.

ASIC hands out licences to FOS and COSL: the External "Dispute" Resolution Services (EDR's), controlled and funded by Banks.  ASIC therefore say "we do not investigate consumer complaints!"  No-one does.  Fraud is being treated as a "dispute" and the fraud is supposed to be investigated by the lazy Australian Federal Police.  ASIC 300 investigative officers are supposed to investigate but the entire system IS CORRUPTED by the second piece of the jigsaw:  FOS and COSL are supposed to advise ASIC if they spy any evidence of criminal activity in the banking sector.....and dumb ASIC is supposed to advise Federal Treasurer. 

COSL say they do not want any files containing FRAUD to maliciously enable COSL to conveniently throw all cases out the window, and that explains why THERE IS NOT ONE satisfactory outcome from COSL in our experience: NOT ONE and we have copy files which we are loading up onto our Library of Infamy.

FOS looks at fraud and statute of limitations for FRAUD by Banksters is in most states unlimited, NSW 20 years.  The truth is that FOS is using a statute of limitations of six years and throwing out any complaint under 2007.  FOS by necessity, has had to put on twice as many staffers to handle the cases and there is a  turnover of staff as well.  Turnover is not as dramatic as ASIC (who would want to work in a corrupt environment?) but its a cost to FOS nonetheless.  But FOS charge the banks $5000 per investigation and there is FRAUD ON 98% of files developed by the bankers' secret weapon "the dreaded SERVICE CALCULATOR, owned and created by Bank Engineers and used as a compulsory loan writing tool by BDM's and Brokers and Planners AND Bank Managers.  IT IS BANKERS who are fudging the figures.  We KNOW that to be true.  The EDR's and ASIC and the Federal Treasurer KNOW that to be true.


1:  Has FOS with its noted "overload of cases" and collection of significant data and documentation, notified ASIC of the "Systemic Issues" they have obviously uncovered: masses of MALADMINISTRATION IN LENDING BY MAJOR BANKS?  If yes, when did they advise, if NO why not?

2:  Has COSL notified ASIC, of the volume of fraudulent cases in every case that they have systemically thrown out? If not why not?  OR did they advise ASIC "no systemic issues" because they threw them all out and therefore are merely a vehicle appointed by ASIC to cover ASIC's cover-up?

3:  What information has ASIC passed on to Federal Treasury over the past seven years and can we under FOI get copies of the minutes of those "monthly meetings" please?  Should be a hoot!

4:  Will ASIC immediately demand the banks hand over every signed Loan Application Form (including the forgeries which are rife) to the owners of the document and if the banks say the docs are missing or shredded, then the loans immediately BE EXTINGUISHED for failure by banks to provide the evidence that in law was to be handed over at point of signing?  If not why not?

5:  Can ASIC show any evidence at all of assisting ONE CONSUMER who has been the target and victim of bank fraud.

6:  Will the Federal Government immediately ensure that ASIC enforces the law and under FOI, demands all service calculators copies that contain personal financial details be sent to the victims, including the "notes."

Perhaps we can then bring this entire debacle out into the open.

My personal message to ASIC:  Today would be a good start!     This email address is being protected from spambots. You need JavaScript enabled to view it.

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  • doyla66
    doyla66 Friday, 04 October 2013

    All these questions are legitimate and as Aussies we are all entitled to answers. If everything was above board at FOS this would not be a problem. I know that FOS do not answer questions. On many occasions and in particular questions relating to FOS's determination were asked, but no specific explanations were ever given. This is a dirty and lazy trick because FOS cannot give a legally binding explanation. A cover up for the banks. I mean, come on FOS do you really think that this is playing ball. FOS are no better than criminals who keep on offending. Meanwhile we are left in limbo.!!!!!!

  • doyla66
    doyla66 Sunday, 06 October 2013


    To Government, ASIC, APRA, Aus. Federal Police, FOS and COSL, wake up and smell the roses. The banking cabal have caused destructive damage world wide with their lack of regulation and mafia style crimes and arrogance towards authority and the well being toward the population of their countries. They have caused irreparable damage to virtually all countries just look at what's going on in the USA at present, and their government has realised what was going on far to late to keep the damage to a minimum. Banks world wide through sheer greed for mega profits have created a secret fraudulent system with mortgage loans to destroy peoples lives and ruin country economies and it's time for the Australian Government to stop them in their tracks and restore order in our banking system. ASIC has let our country down so badly they are the root of all evil when knowing of the scam and doing absolutely nothing to stop them. Great for consumer protection isn't it when they have done nothing but protect their banking buddies at every hurdle. When their boards are taken up with banking personnel and their lawyers how can that be good for a fair consumer protection body. Genuine complaints with obvious fraud on loan application forms are being thrown out and not reported to higher offices. All these loans must be extinguished immediately and the banks loss can be their penalty and punishment. People with homes lost to this scam must also be compensated.
    Nothing short of a ROYAL COMMISSION into the banking and financial sector will do with the broadest terms of reference.
    Dismantle ASIC as they are incompetent, protective of the banks and as far as consumer protection they have failed dismally, blatantly ignoring all evidence of fraud when placed in their laps

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