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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: Dark Heart on Australian Banking - time the public received truthful figures

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The dark heart of Australian banking

Sighhhh. I’ve written about this in detail a few years ago but nothing has changed and the deceit continues. All of the Mega Bank’s divisions continue to present to the market deceptive figures about the strength of their balance sheets and the amount of capital Mega Bank holds compared to banks in other parts of the world.
Mega Bank asserts that because APRA has harsher rules in some capital calculations under Basel requirements that its capital ratios when compared to banks in other jurisdictions should be higher, thereby representing greater balance sheet strength. Whilst this claim is based on an Australian Banker’s Association report of 6 or 7 years ago, is not only dubious, IMHO its down right deceptive.

In order to substantiate my claims, I refer you to CBA’s latest result presentation for the half year to Dec 2013.

In essence, the CBA presents that it has better capital ratios when compared to banks regulated by regulators in other jurisdictions than APRA insists it calculates and reports under Australian regulation. Whilst generally, jurisdictions that follow Basel Committee rules on capital calculations use the same calculation rules there is some discretion in the hands of local regulators as well as unknown variation within internal models. So differences do exist, which is why there is an international movement for greater transparency in reporting capital calculations which I reported on a few weeks ago.


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Guest Monday, 25 January 2021