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BFCSA: Calls for ROYAL COMMISSION into Bank Engineered Fraud in TOXIC FULL DOCS

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The Australian Federal Government must approve a Royal Commission into the Banking And Finance Sector: here is why:

What we already know and have the proof of:--  The issue is a giant fraud involving between  $57 Billion and $100 Billion.

We also KNOW that a massive percentage of fraudulent and imprudent loans are TOXIC FULL brokers involved!

A devious business plan was devised and executed by the Banks 36 lenders including the Majors in the mid nineties here in Australia.       Set patterns emerged and we have emails between the lenders staff and brokers which we have decided to load onto the LINKS in "Breaking News" at the top of the Home Page.  See above.

·         The victims are left with impossible lifetime of debt and they have painstakingly listed the discrepancies/fraud on their Loan Applications.  These were fudged figures devised by a service calculator and not by the Broker/Planners.  BFCSA will reveal more details next week.

O     BLOGS on this site from JJ are relating to American laws.  The Truth is that Banks know that if they fleece you of every last dollar, you have no money to go to court and are laden with debt.  The arbitrary system is far from perfect and funded by a levy on banks and yes the point is the banks are in control of outcomes indirectly.  However, BFCSA has shown that if you band together and refute the initial "solutions " handed out then the outcome reverse from 25% customer advantage or less (as was the case in 2008/9) to 75% the victim's advantage is possible via the EDR's dispute services.   However, as we found out they can be tricky and so many people are having FILES CLOSED before any investigation has been carried out.

·          Victims of Banker Fraud are left with zero funds for lawyers and then cleverly denied access to courts.  In fact, BFCSA know the device used to implement the fraud on massive sub-prime scale:  The Dreaded Service Calculator.

·         We have asked forensic experts to look at handwriting to prove additional writing on LAFs by credit assessors.  The CA's use gallons of white-out in "tweaking" the figures from the 1.47x broker Calculator to 1.1x calculator for bank insider staff.

·         BFCSA Members have uncovered further proof of intention to deceive by lenders, post the July 2012 High Court decision.

·         We have exposed the links between Managed Investment Scams, Non Bank Lenders, Brokers, Planners, Accountants, Rating Houses, Liquidators, Lawyers and Property Developers.  So many players feeding off the same trough.

·         We have set up a fighting group, a research team and website to pump out the message of FRAUD BY BANKERS via mainstream media.

·         We have gathered over 1200 people together, all with similar files and evidence, to form a conclusive pattern of criminality by Lenders.

·         We have successfully lobbied for Post GFC, PIA and MCCA  Inquiries and ten other associated Parliamentary Inquiries to date

·         We have witnessed the Regulators and Treasury misleading the Federal Parliament and on several occasions.

·         We have exposed the fact that the Australian Government has yet to show appetite for enforcement of law in white collar crime

·         In particular there appears to be no political will to investigate the banking and finance sector.

·         We have exposed the fact that our children and their children will be mired in debt if we do not fight back.

·         We testified in Parliament as to the evidence we have collected on 8th August 2012.

·         We have made repeated representations to Government for a Royal Commission to be held into Banking and Finance White Collar Crime.

·         We have highlighted the fact that the mechanics and engineers of this scandal have retired…..with the loot and at present have seemingly been permitted by regulatory neglect, to keep every dollar of that stolen loot and get away with major criminal cartel operations.

What we need right now is a Royal Commission into Banking....wide Terms of Reference.

The only piece of evidence we do not have but would like to receive is internal bank emails between Credit Managers/Sales Managers and the BDM’s and Assessors.

We have the knowledge they exist: Bank staff complained to their union in 2010 and continue to do so.

For those who ask, I am a criminologist specialising in white collar crime.   My work is voluntary.  We have conducted a ten year investigation that led to the gathering of victims in 2003 and  ultimately led to the High Court victory and all of the above.

We need insiders in the banking sector to come forward and add to this list and our aims.   Please tell us your story.

You can assist the estimated 100,000 families that we believe are sitting on $57 billion of sub prime loans.  Not one of the members  received a phone call from the Lenders across Australia and New Zealand to verify income.  None received their Loan Applications the moment they signed and, every document was tampered with after these people signed and without their knowledge or consent.  It is also clear there are at least three people's hand-writing on the LAFs, after the documents were signed.  The original signed LAF was presented as a three page document and is ion fact 11 pages.  The offending and fudged pages were added by brokers on instruction of the bank and Brokers are, even today, told in written form DO NOT SHOW THE BORROWER re the service calculator.

 Amazingly, ASIC has ignored all this evidence and claim the new laws are protecting people.  This is patently false as the game plays on - we have the proof.  Brokers are being made the scape-goat.  Banks are taking NO RISK as the horse race is rigged.

We are now about to reveal how all of the above pieces fit together and why Australian mortgages Full DOC, Low Doc and No Docs are a grand slam scam.  The property bubble is another key factor.

Continued later this week   This email address is being protected from spambots. You need JavaScript enabled to view it.



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  • doyla66
    doyla66 Sunday, 09 June 2013

    Good summary of the situation. Thankyou Denise.
    Too many good hardworking Australians are still paying for the Banks' misconduct.
    Not just in dollars and cents.
    It galls us to see Banks and other lenders getting away with what now amounts to daylight robbery of the government and the people.
    Especially when most of us were and still are doing the right thing and pulling our weight to the best of our ability.
    Still the RBA and others are trying to fuel some sort of property boom through media hype and monetary policy. At present it looks like it will take 10 years before the property industry is anything like back to normal - and who knows what that will be.
    I feel certain there are Bank staff who would like to tell us what they know from inside the Banks and other lending institutions. When an organisation has a reputation for stressing and bullying their staff that has made it to the public's attention there must be many with stories to tell. From experience sharing this with right person can result in a major sense of relief, as if a great weight is lifted.
    "Australian Government has yet to show appetite for enforcement of law in white collar crime" - does anyone know the real reasons for this?

  • doyla66
    doyla66 Sunday, 09 June 2013

    I could hazard a guess Lisa and suggest it may be because it could lead to lack of credibility and the collapse of our economy

  • doyla66
    doyla66 Sunday, 09 June 2013

    They're in on it, benefiting from the scam.
    No need for a Royal Commission for that very reason.
    Can you imagine Kell answering any questions? -"I wasn't aware of that, thanks for telling me".
    And FOS sticking to their guns.."They signed they're liable"
    Deny! Deny! Deny! that's their motto.

  • doyla66
    doyla66 Sunday, 09 June 2013

    Can you imagine Kell answering any questions? -"I wasn't aware of that, thanks for telling me".
    :D :o - good one, Maria.
    Agree - scam = fraud = motivation intention proven. Banks, their agents and subsidiaries make money from fraud. That was the purpose.
    FOS - aha - well, they're entitled to their opinion. Won't work with us :) or with any truly informed, supported and motivated borrower. Treating us like sheep? There's no wool over our eyes. Just disgust and distaste from dealing with liars, cheats and dirty fraudsters.

    The powers of a Royal Commission with the right TOR and motivation will unearth information that we may not be able to access.
    It works best if there is a passionate interest and healthy curiosity: what, how, who, why and when are they going to follow through on the recommendations IMHO
    Better if not just politically motivated e.g. RC into Unions under guise of RC into Industry - can limit focus.
    Bank RC is a broad issue with many branches and wide impact over many years.
    Public, business, pollies can learn a lot from a well run thorough RC through media and ongoing discussion.

  • doyla66
    doyla66 Monday, 10 June 2013

    Refer to "without contest" appt of Medcraft as ASIC Chairman: "Nepotism & cronyism in selection & promotion is one of the hardest forms of corruption to investigate & monitor."

    Transparency: Corruptions Perception Index: A country [email protected] a "lid on corrupt activities" will rate higher in that index; --No matter how great the present level of denial (of corruption) might be - having a Royal Commission into the run-amok Banking & Finance Sector is far better, "than having hidden corruption grow until finally it erupts in a scandal so gross that nobody can sweep it aside."

    The World Bank tries very hard to combat corruption because it is so closely "correlated with poverty", ...(and) without measures to control corruption, it is hard for a country to make progress (see Strengthening governance: tackling corruption, World Bank, 2012).

    " If this (AUS) government is to gain the high ground in improving the quality of public administration, it should make a serious commitment to strong, independent anti-corruption bodies with real teeth to investigate. There are some senior figures still pushing for action on integrity. ---They notably include Labor senator John Faulkner. He gave an outstanding speech in December last year to an ''integrity in government'' conference, noting that in the ''roll-call of democracies committed to strengthening a global culture of transparency and accountability … Australia is a notable absentee''. The government should heed the warning that - without action - our integrity standards will sooner or later fail. "

    ReporterStephen Bartos is the executive director of ACIL Tasman and a former senior public servant.

    Read more:

  • doyla66
    doyla66 Monday, 10 June 2013

    ROFLMAO - - - "FOS - aha" :D:):o;)

    Nice one you 2 - nailed it! What was that? NAILED IT!!

  • doyla66
    doyla66 Sunday, 16 June 2013


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