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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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Subscribe to this list via RSS Blog posts tagged in ASIC gobsmackingly inept
ASIC is stealing your money: by:John Rolfe Public Defender From: The Daily Telegraph August 21, 2014 THE federal government agency meant to locate owners of $1.2 billion of “unclaimed” money no longer has time to do so because it has been overwhelmed by Bill Shorten’s decision to snatch more dormant dosh. Not so long ago Australian Securities and Investments Commission (ASIC) staff would congratulate each other for returning — at no charge — more lost cash than money recovery agents, who take as much as 25 per cent of the amount found.  In 2009-10, ASIC proactively returned nearly $10 million. Money recovery agents returned just $7.8 million. ­Individuals doing their own digging found $9 million.  But figures obtained by The Daily Telegraph under freedom of information laws show that in 2013-14 ASIC did not return a cent.  Meanwhile, those greedy money recovery agents located nearly $5 million, generating hundreds of...
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  • Aries
    Aries says #
    It seems as though ASIC need a rocket up their a*#se for not doing their job yet again. Can someone from Canberra tell us what it
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Continue reading Regulation by mateship — Ian and Mathias show the way in financial planning   Bernard Keane|Jul 04, 2014 1:02PM   We’re headed for an era of mateship-based regulation in financial planning, in which the big banks will get away with as much as they can until governments decide it’s politically unpalatable...................  With all the focus on the Commonwealth since the inquiry, the ostensible sector regulator, the Australian Securities and Investments Commission has gotten off lightly. Remember, this is a regulator so gobsmackingly inept that it not merely ignored repeated efforts by whistleblowers to alert it to what was going on at CFP, when the CBA itself alerted ASIC to the activities of one of its worst planners, ASIC simply lost the report.  And that was before it had its budget significantly cut, as it did in May. The result — $50 million so far in compensation for clients of the CBA, and...
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  • setup
    setup says #
    It's time the Pollies got some backbone and started helping and servicing the people who voted them in instead of focusing on thei
  • TestUser4
    TestUser4 says #
    Yes folks. At last the blogs and comments are open. You need to re-register and then wait for activation email. Yes you can use
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