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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: The Big Bank Stitch Up exposed on Fraudulent Loan Application Forms: Turning Consumers into and Army of Super Sleuths

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Just remember this figure:  18% of all people surveyed by BFCSA, say they have FULL DOC LOANS arranged by Bank Managers and NO BROKER INVOLVED yet all were toxic, unaffordable, designed to implode at 6 years and, all were fraudulently altered after people signed and without their knowledge and consent.  36% of all our people surveyed said their loans were either FULL DOC or LOW DOC arranged by Bank Managers and NO BROKER INVOLVED yet all were toxic, unaffordable, designed to implode at 6 years and, all were fraudulently altered after people signed and without their knowledge and consent. 

No-one across Australia received a LOAN APPLICATION FORM despite the fact that under Contract Law the customer is entitled to a document they are asked to sign.  You are entitled to a copy at point of signing, yet this most important decision of a lifetime and NO-ONE received a copy and ASIC state "no systemic issues."

BFCSA has managed to unravel how the Loan Application Fraud was so successful for Banks for nearly two decades:  Lazy Regulators, lousy political will to uncover the truth.  Consumers were important for bankers to grow filthy rich.  Yet Consumers were also pesky, particularly those who joined BFCSA and worked out how to join the dots and discover the fraud on their own documentation.  That's is our legacy.  

There have a been several winners to date - deals done behind closed doors when banks know they have been exposed and fear the media.

This is one of our super sleuth's comments: 

I cant get through my head how the trail of bad documents does not make this case a doddle.  ASIC must come clean, they cannot hide behind their [email protected] excuse that we can see no systemic issues with the Banks. In my own case which has advanced to a senior FOS case manager now but it took some time getting them to see the real villain in the loan was not our BROKER   FOS wanted to move our case to COSL. We fought back: NO WAY as it is the Bank's dirty deeds!    

The Broker initiated the sale and found the property but, we had a long standing relationship with our Bank Manager so elected to do the borrowing directly through the Bank. The Bank themselves through their Loans Manager did the ground work and prepared the entire FRAUDULENT Loan Document (and my god their is plenty of fraud on it).    All of the fraud was added on after we signed and we did not know until recently.  No wonder no-one in Australia gets a copy of this document!

We supplied all of our assets listed our TAXATION figures to them and the Bank Manager did the paper work which we initially saw in the document prepared in the original loan prepared at the deposit stage.  That loan document had to change on the 11th hour of our borrowing as there was a zoning change on the property at completion so new documents had to be prepared. At this point things got twisted and the slight of hand began, but please try to follow:   The original Bank could not do the entire lend as the zoning did not allow it to be done by one lender, so now it must be split into TWO lenders of which both new documents contained the same overstated incomes overstated assets and many other abnormalities.

Although we had supplied all the relevant AND TRUTHFUL information BOTH BANKS somehow made the same "typing errors" on their INDIVIDUAL LAF documents to overstate incomes etc.  but THIS IS NOT "A SYSTEMIC PROBLEM"?    Oh please you are bloody well kidding me!!

Oh by the way folks just to complicate thing further the original document which we did view with all the information correct and in place for the deposit.    Well guess what: the ORIGINAL HAS DISAPPEARED.   Although the BANK number one has searched high and low, they cant seem to find it.

We did manage to get the 2nd set of loan applications copies, 1 set from the Branch and 1 set from Head Office and guess what surprise, surprise they are both different and the ones from BANK 2 the figures are different again and all are well overstated.

So i suppose it seems to me that the obvious common denominator is they all did the same tricks, you never got to see the loan document again once you signed it. I suppose we all being too trusting and believing as we had been taught the Bank Manager was someone to be trusted and looked up to so none of us ever thought of anything underhand going on. Boy were we misled.  Jacko

Yes Jacko:  Its a sad indictment of the BANKING ERA 1996 - 2013, Our Banks were all in cahoots doing the same thing - robbing their own customers blind.  ASIC put the blinkers on and FOS did not start waking up to the widespread crimes until we came along.

We trusted the Banks and they betrayed our trust.  This puts a whole new spin on ROBBING THIEVING BANKS

If you were intrigued by my comments in the 8th August 2012 transcript to the Senate stating "we have not found one clean loan as yet NOT ONE"; and "Government cannot profit from a  fraud." then neither can banks.   But Australian Banksters are profiting and racketeering.  I will have plenty to say when I send in my submission to Parliament on this very issue and why ASIC were asleep at the wheel.

Every person who has a home loan should immediately demand a copy of their LOAN APPLICATION FORM and start today in becoming a BFCSA Super Sleuth

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  • doyla66
    doyla66 Friday, 23 August 2013

    Bankster-racketeers treat

    M.I.A. lost-in-battle "original" apps must be 'aired' to clients; Info-Privacy-Act provides access to identify/correct errors; apparently 100,000's (if not ALL) of these naughty little "original" docs will never see the light of day as "securely destroyed" (by CEO directive).

    So, ..if this is not a consistent pattern of perverted behaviour {= massive cover-up} orchestrated by debauched CEO bankster-racketeers broadcasting from their gin palacaes.. "we really do have clean hands".....yea, right ...and pigs would fly.. saw a cow jump over moon too, chasing that mouse...

    In an ordinary world/truth in banking environment: " ...You may apply to amend documents containing personal information you believe is inaccurate, misleading, out of date or incomplete. You need to have seen or accessed the documents before you can apply to have them amended.

    To apply to amend your personal information, download and complete the application form (PDF, 88KB) and submit it by post, fax, email or in person. There is no application fee but you will need to give the agency evidence of your identity (e.g. a certified copy of your driver licence).

    On 1 July 2009, new laws, the Right to Information Act 2009 (PDF, 883KB) (RTI Act) and the Information Privacy Act 2009 (PDF) (IP Act), replaced the Freedom of Information Act 1992.

    We are committed to open government, so we’re making it easier to access government information about our departments, services, finances, policies, registers and lists online. Unless it’s not in the public interest, you can access documents through Right to Information (RTI) or Information Privacy (IP) requests.

  • doyla66
    doyla66 Saturday, 14 September 2013

    The problem I can see with the change from FOI to "Right" to Information is that you have to argue for your "right" to access that information while those who don't want you have it argue for their "right" to keep it hidden.
    This is probably the stunt that ASIC pulled on Verrender and others in the media who were seeking information in the public interest.
    The argument that keeping this information hidden is in the national interest, protecting the economy, etc is getting pretty thin.
    More leaks needed, in the public, national, investor, consumer, personal and international interest.
    I wonder how impressed overseas investors will be when they discover how much was being covered up?
    I'm not giving up my property or limited bank account to foot the bill for that choice by ASIC and others - I hope everyone feels the same. Do you think we might need a bit of "spare" in the back pocket just in case we have to go and retrieve a few "golden parachuters" to face the Royal Commission? They'll need to become golden astronauts to escape justice the way we're feeling about them. Dirty rotten lying scoundrels.
    And as for taking legal action against the untouchables of ASIC, they're financed by the Australian government, they're still subject to punitive action by Australians if they've done the wrong thing. Otherwise there are some excellent US lawyers who would most likely be interested in a slice of the group action. I suggest ASIC think hard about whether liquidating the "commission" was such a good idea after all. Mainstream middle Australians are rapidly losing their enchantment with 'privatisation' of government entities and responsibilities, especially due to the lack of oversight, regulation, consumer protection and the barbaric credit free for all that's hitting millions of good Aussies right now.

  • doyla66
    doyla66 Sunday, 25 August 2013

    Destroyed documents as good as proof

    If a document contains my signature and it is related to a then live loan it CAN NOT be destroyed. Remember this is a crime scene the Banks have to prove their behaviour is not criminal we the consumer know we have done nothing wrong. Surely ASIC must put this question to the Banks first, why if there is no criminal activity in the LAF or the Calculator were these documents destroyed or have simply gone missing. I think it is obvious its like a murderer throwing the smoking gun into the river,well ASIC that only works if your fingerprints are not all over the crime scene and our Banks fingerprints are all over this crime scene. Before we even get to a Royal Commission why not give the Banks an amnesty period to clean up their mess give back losses, disolve toxic mortgages restore people into homes that you have illegally taken away and agree to to an INDUSTRY WATCHDOG/REGULATOR that is genuinely independent. The alternative is of course what we are about to see THE ENTIRE BANKING/FINANCE AND ASSOCIATED CROOKS, dragged through a Senate Committee Hearing then on to a Royal Commission biting, kicking and screaming and proclaiming their innocense. So sad boys we have DREDGED THE RIVER AND FOUND YOUR SMOKING GUN. It just always looks worse when it comes out in public, that they had their chance to come clean but didnt take it now they want a lenient sentence. TOO LATE THROW THE BOOK AT EM.

  • doyla66
    doyla66 Sunday, 25 August 2013

    That's right Paul, we are the innocent party against the bank crooks. It's not hard to detect brazen fraud on the laf's when an investigation is done.
    And if the brokers were instructed by the lenders to shred the laf's so the ultimate blame would rest on them (the brokers) and take the focus of the banks then this, also needs to be highlighted in the Senate Inquiry.
    Closed cases need to be reopened. Just because they exceed Fos's jurisdictional limit doesn't mean they are clean.
    Asic hold the key to this issue.

  • doyla66
    doyla66 Wednesday, 28 August 2013

    EXACTLY Paul - an amnesty could work, otherwise our whole economy as we know it will go down the gurgler..

    also, our "live' loan documents were destroyed. Broker said he was advised to but would not say by whom... hmmmmmm

    Ed: Must have worked for Aussie - from the "we'll save ya mob"

  • doyla66
    doyla66 Saturday, 14 September 2013

    Good one, Paul. :)
    Herald the coming investigation, inquiry and Royal Commission into Banking.
    Then give the Bank, non-Bank lenders, regulators, their agents, staff and others the opportunity to come clean.
    Clear out the feral loans, the non-conforming debacle that is Australia's mortgage industry.
    Could we first request that the oversight of whistle blower applications be placed under the aegis of a neutral manager or body? Government whistleblowers do not need the added stress of victimisation at work - just as those with cases under ASIC don't need the added stress of a biased 'wilding' EDR injustice system spitting out their cases.
    Changes to the administration of whistle blower applications may also increase the number of submissions going to the Senate Inquiry.

  • doyla66
    doyla66 Sunday, 15 September 2013

    Just wondering, Change, what percentage of each Bank's value is created by their home loan and then business loan book?
    Our economy as we know it could go down the gurgler but the economy could still be ok.
    Decent companies and individuals do not deliberately destroy documents within the statutory period. Those who do have something to hide and usually do it on legal advice. I'd even question that legal advice - obviously they don't. More Bankster rats on treadmills, trying to absolve themselves of obligation and responsibility.
    It seems that a very large chunk of this country have been herded into this blind obedience. Quite incredible.
    The assumption by economists that their figures on the number of tax payers that are still willing to be led into this game is going to suffer some serious shrapnel.
    Increasing numbers of Australians are not willing to respond predictably to the jerk of the RBA string (monetary policy).
    Increasing numbers of PAYG Australians are deleveraging as fast as they can. The Bankster system relies on the great economic god of continuous growth.
    What will happen as more and more Australians do the low risk thing and contract their lives to trusted friends and suppliers, local community farms, supporting our corner stores and leaving the multinationals to read the mail: They took us for granted and we're turning the country around by ourselves, regardless. Eventually it might filter through to Canberra - we wish!

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