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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.


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Whistleblowers' Corner!

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

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


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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Bank of America has agrees to a record $18 Billion deal to settle claims it sold risky mortgage securities as safe investments ahead of the 2008 financial crisis. The bank said it would pay out US$9.65 billion (A$10.37 million) in cash and provide US$7 billion (A$7.5 billion) in relief to consumers affected by losses tied to those securities. The settlement, with the US Department of Justice, the Securities and Exchange Commission, and other authorities including individual states, resolves a number of civil investigations against the bank and subsidiaries Countrywide Financial and Merrill Lynch, which it took over during the crisis. But it does not resolve potential criminal cases, especially involving Countrywide, once the country's largest home-loan issuer, and Countrywide officials. "We believe this settlement, which resolves significant remaining mortgage-related exposures, is in the best interests of our shareholders, and allows us to continue to focus on the future," the bank's chief...
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    Here it comes, the Banks have got away with this for too long already but now the tide is turning and there is a light beginning t
  • setup
    setup says #
    Their Political leaders would have put the pressure on and i guess it's a start in the right direction but it doesn't state clearl
  • Duped
    Duped says #
    We here in Australia know that banks used fraud against ordinary people borrowers which is one of the reasons they make these obsc
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The soft underbelly of the regulator DateJune 14, 2013 - 5:39PM Read later Michael West Business columnist View more articles from Michael West Email Michael Zoom in on this story. Explore all there is to know. Australian Securities and Investments Commission ASIC's processes questioned. Photo: Arsineh Houspian There are mates’ deals and there are mates’ deals. The recent revelations by Jeff Knapp from the University of NSW that the corporate regulator produced an accounting relief order for Kagara on the same day the application was received exposes the soft underbelly of the Australian Securities and Investments Commission – its conflicts of interest. The corporate regulator responds Nine senior ASIC staff members, including the chief legal officer, are associated with a quick-fire process to render assistance to a former colleague. The ASIC email chain for Kagara is chilling: a bat phone to high ranking ASIC offices, inappropriate pressure placed on Commission staff by the special counsel...
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  • doyla66
    doyla66 says #
    This misconduct and attempted coverup by ASIC and lawyers does nothing to engender trust in Australia's corporate regulator. Wher
  • doyla66
    doyla66 says #
    "Mallesons paid ($millions) to run a test case on whether a court could give an order to allow the company NOT TO DO DISCLOSURES -
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