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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: Peter Kell ASIC explains service calculators to The Business ABC

Posted by on in Dumb ASIC
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Extended interview with James Wheeldon (Lawyer Whistleblower)

Updated Thu 3 Apr 2014, 10:37pm AEDT

ASIC is used to dealing with whistleblowers coming forward, but is now having to deal with an insider blowing the whistle on it. The corporate regulator faces accusations it was in the pocket of the big financial services players during a round of super industry changes ten years ago. Lawyer James Wheeldon speaks to Ticky.

Source: The Business | Duration: 26min 56sec



Now listen to the Extended interview with Peter Kell

Updated Thu 3 Apr 2014, 10:23pm AEDT

ASIC Deputy Chairman Peter Kell flatly refutes James Wheeldon's allegations. He speaks to Ticky.

Source: The Business | Duration: 10min 57sec

Duration 10mins 57sec





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  • doyla66
    doyla66 Saturday, 05 April 2014

    Due diligence needed in dealing with Australian business, regulators and government?

    It must be reassuring to the rest of the World to know that Australia has corruption in its financial regulatory system, just like everyone else.
    And Australian regulatory PR people try to cover it up and deny it, just like every other country.
    Wasn't Australia trying to pedal it's lily white reputation of no fraud about this time last year?
    Bang (or Bank) goes our perfect reputation. We're at least as corrupt as the rest, just slower in admitting it and so little or nothing is done about it, as most politicians would prefer denial to conflict which requires direct action.
    What do the Aussie voters think? Should the ABC do a vox pop and find out what the man in the street thinks of corruption, ASIC and Big Business?
    Once again, our grievances with the Banks aren't necessarily about how much they earn. They're about the principles of fair access to law, fair and reasonable treatment, un-corrupt and diligent regulators, and the way that Banks are robbing us illegally and then telling every potential investor how well they're doing in the lucky country. :D
    So well, in fact that they're still having to steal homes to make ends meet. Doesn't add up at all.
    Hand outs from the Government won't save our homes, based on the last Bank bailout.
    Deduction: the government are helpless in the face of the demands of Banks. So how about giving Banks the inevitable money on the strict understanding that no homes will be stolen and no moneys extracted illegally from borrowers along with the bailout? That's the least that the Government could do for honest Australians dealing on a daily basis with unscrupulous and crafty Banksters and white collar organised crime ... just like the rest of the world.

  • doyla66
    doyla66 Sunday, 06 April 2014

    On the money - slaves no more!

    What's the Australian government waiting for? After all anything that goes from the government toward paying out dirty loans or appeasing greedy banks is just a keystroke or two, transferring numbers from one account to another. No real hard earned money involved with Australia's credit ceiling. Only taxpayers earn real money.

  • doyla66
    doyla66 Saturday, 05 April 2014


    Is not Kell one slippery nasty piece of work. He and his mates in ASIC are in their own little world thinking they can justify every negative criticism bought against them. That's what happens when you become full of your own importance.

  • doyla66
    doyla66 Sunday, 06 April 2014

    Mr Kell you are one slippery cus

    I cant believe what a moron Peter Kell is to think anyone swallows the crap he tries to sell to us as his version of the truth. No advantage to the big end of town by peddling products that don't disclose the real picture, yeh sure. I suppose the Loan Application Forms we all got conned by with their attached Service Calculators were all above board as well lets just see all the crooked revelations that will come from that little lot over the coming months. Wake up Kell your goose is cooked and you might just have to start putting a few of your mates from the big end of town to the sword, ASIC's days are numbered in the form we now know it.

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