Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook

facebook3           facebook2 


What BFCSA Does...

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.


Articles View Hits

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Lee Doyle

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.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

Loan Fraud - Loan market created by the Lenders.

Posted by on in BANKSTERS
  • Font size: Larger Smaller
  • Hits: 3070
  • Print

With lax lending compliances and checking systems, such as exist with No Doc and Lo Doc loans, there maybe borrowers who were taught to take advantage of the opportunity to tell the Bank exaggerated detail, or so it seems. 

This opportunity was created by the banks themselves, by offering a product that didn't involve the prudent checks and balances that any reasonable person would expect from a Bank or Lender in Australia. 

Then there are the borrowers in our situation: we told the truth and even offered our documentation for checking, only to discover later that our honestly declared financial facts had been changed by bank staff or brokers.

Without Lo Doc and No Doc loans it would be well nigh impossible to create a fraud loan... unless I've missed something? 

Strict enforcement of all codes, regs and Laws should eliminate 99% of loan fraud.

Banning of Lo Doc and No Doc loans is essential. There is no need for them. All self-employed people who would be able to comply with repayment requirements on an "average" home loan would also have considerable documentation and could get further substantiation from their accountants and other forms of income verification, even in the absence of a full tax return. Thus all loans would be Full Doc loans.

Full Doc Loans have been found to have alterations as well. This is straight forward fraud, IMHO.

Little wonder that the media and the public have had trouble getting their heads around what sort of Loan Fraud we're talking about!  

 EDITOR:  Fraud is AN INTENTION TO DECEIVE and the proof of the Bankster Engineers' intentions are well documented, so why the delay in calling a Royal Commission into Banking and Insurance sectors.....?

Last modified on
Rate this blog entry:


  • doyla66
    doyla66 Saturday, 25 August 2012

    Exactly what you said - Banksters had policies and procedures in place to stop this, "so called" fraud. This leads to a few implied conclusions A) That they were in one it with the consumer
    B) Did not care and just wanted the commission etc
    C) Have no respect or concern for anyone (including their own bank they are working for)
    D) Lazy
    E) Were willing enables.
    The bottom line is that the consumer would not be in this position if the banksters DID NOT be the the enabler. They are like the drug dealer who defence is - I did not force anyone to take drugs - they came to me wanting to buy it!! But if the drug dealer never sold drugs- the people would not be addicts and would not be able to buy them. Banksters provided access to an addiction. These policies were in place not only to protect the bank, but also to protect the consumer themselves. The common belief is that banks are a type of authority/gatekeepers - if they say yes - then it must be okay then. Please watch the DVD - Too Big to fail.(in stores now). The analogies they point out in their about banks in general are though provoking.

    But - despite how it happened - Banks should not profit from fraud!! Another question is - CONSIDERING THE VOLUME OF THIS FRAUD -where and what were the credit and asseessment and risk management team doing in their jobs..They must have seen evidence of this too coming through and chose to do nothing. What about the internal auditing that the banks - so call do of themselves. !! What these so called montoring systems that banks have in place, (internal and external) have in place failed to see this this???
    I also believe that the push that banks advertised so much - HARDSHIP claims was another ploy to cover up their fraud. Think about it. People who began to suffer and they could not pay overextended loans - contact hardship and gave bank time to audit their files and identify these people coming through who may propose a risk to them and then attempted to get rid of them before anyone else further found out. The most common theme in the hardship claims was to tell the consumer they must sell to reduce debt!! Even at a loss. So in this circumstance again the bank is still exploiting the consumer and still benefiting from profits of fraud. Hardships only bought time for the banks and allowed them to start bullying the consumer. Look at the wording in hardship claims - very interesting and enlightening..

  • doyla66
    doyla66 Sunday, 26 August 2012

    yes, they wanted this covered up. When you sell your property and there is going to be a loss and the sale proceeds do not clear the debt, in normal circumstances, the banks will not pass title to the new purchasers so either the sale falls through or you have to borrow money off you parents (or someone) to clear the debt completely. I KNOW a broker friend of mine that purchased property as a sophisticated investor and now owns NO PROPERTY at all BUT BUT BUT, the bank have allowed her to sell her last property and she is now paying off a shortfall of 80K to the bank. So she now has an unsecured loan to the bank of 80K . Yes another way you can keep the peasants quiet, let them think the bank is doing them a favour.

  • Denise
    Denise Sunday, 26 August 2012

    The big issue:
    Banks are not permitted to profit from a fraud and will have to forgive (and pay back) all interest, fees and charges.
    More importantly the Government cannot profit from a fraud so all funds generated from RMBS investment can be channelled back to the victims.....My members will be delighted tor receive those funds!
    [email protected]

  • doyla66
    doyla66 Sunday, 26 August 2012

    MrASIC"Wake UP">Fiduciary Duty(care)=banks knowingly not placing consumer'in harms way'-Stop taking sleeping pills.SURELY!!!

  • doyla66
    doyla66 Sunday, 26 August 2012

    and the longer they drag it out the more money they have to pay to all concerned - ASIC, FOS, ALL GOVERNMENTS - stop pressing the SNOOZE button we are not going away & start taking some serious action - BRING IN A ROYAL COMMISSION NOW into the Banking sector & use your powers to give back our lives that was stolen from us by those devious, lying BANKS!!

  • doyla66
    doyla66 Monday, 27 August 2012

    I'm gonna hate those fraud loan providers forever, they make me their victim a while ago when I was applying for a loan online. I want to sue them but the fact that it is an online application the loan will never be retrieved anymore. Any advice on how I could get a reliable one? -

  • doyla66
    doyla66 Friday, 25 January 2013

    It’s good that there are such institutions which help to identify and prevent fraud. We live in times when lots of people become victims of scam loans because of personal financial crisis and scammer banks try to make money on it. Just one wrong step and a person who has a home can easily become homeless, that’s just awful. Hopefully that work of such organiztions like BFCSA will help to stop scammers and decrease occasions of fraud.

Leave your comment

Guest Wednesday, 27 January 2021