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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: Lender Liar Loans Approved by Majors - ASIC knew years ago. VIC Police take action

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BREAKING: Third arrest in $100m home loan scandal

by Calida Smylie | 30 May 2014


Victorian detectives have just arrested a third man in a $100 million home loan fraud scandal which involves six banks.

Detectives from the Fraud and Extortion Squad announced this morning that a 43-year-old Rowville man has been taken into custody as part of an ongoing investigation into a $100 million fraud.

The man, who has not yet been named, has been interviewed by police and charged with more than 140 fraud related offences. He will appear at the Melbourne Magistrates’ Court shortly.

The complex and decade-long scam relates to fraudulent loans secured by an accounting firm and involves five men. Two have been named so far.


The alleged fraud also involved ANZ, Westpac, Bankwest, St George and Bank of Queensland.  CBA is said to have foreclosed on the homes of victims despite the bank being alerted to the alleged scam for more than four years, reported The Age

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  • doyla66
    doyla66 Sunday, 01 June 2014

    CBA is said to have foreclosed on the homes of victims despite the bank being alerted to the alleged scam for more than four years, reported The Age
    That is despicable and disgraceful. CBA should have been stopped from doing this. Where is APRA while this kind of illegal home stealing is going on? Borrowers seem to have no rights and often lack the financial resources to protect themselves when the CBA liquidation juggernaut rolls into town. The law is too slow in attending to these fraud cases. Do we need a more streamlined system for dealing with the criminal conduct in lender liar loans?

  • doyla66
    doyla66 Sunday, 01 June 2014

    Just shows the lenders total ruthlessness and disregard for APRA etc Transformation, and their total flouting on any legalities which may come into play. What is now going to happen to the CBA customers who have been foreclosed on and lost their homes. Anyone who has been through having their homes repossessed knows what I write about. We feel we have been treated like we have a contagious disease. The quicker the lenders can get at you, get your house regardless of what the circumstances and then get away from you is sickening. It appears that once you have had you home repossessed you become invisible to the Lenders. Nab have not even had the decency to advise us of where the funds have been dispersed to after the house was sold some nearly 7 months ago. We like I'm sure many others are left up in the air with no closure, or with no knowledge of what Nab intends to do next. Do not have anything to do with the Nab is all I can say.

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