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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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By Philip Soos  Tuesday, 21 August 2012 The level of sub-prime mortgages in Australia may be far in advance of what was previously assumed and provided for by banks. The story was broken on the ABC, and covered elsewhere. The revelations centred around two personalities: Kate Thompson and Denise Brailey. Kate Thompson was a licensed mortgage broker at Mortgage Miracles in Western Australia. A highly regarded and award-winning broker, Thompson disbursed a veritable torrent of credit from bank and non-banking lenders to clients wanting funds to buy property, making around $5 million a year from upfront and trailing commissions. She is now facing fraud charges for what amounts to predatory lending: providing credit to people with little to no expectation they will be able to repay the entirety of the loan. This fraud was achieved by fudging the income and assets of clients, making them appear much wealthier on paper than was...
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I've just received a letter from ASIC. They have had my complaint about a possibly fraudulent investment involving deceptive and misleading conduct by the fund manager, lack of fiduciary duty and breach of contract issues since October 2011. On learning that my investment had been "lost" after everything I'd done to get it back, I put in another related complaint recently and that has prompted a reply. What I did this time was ask them to let me know asap or within 28 days what breaches of law etc they could find in my complaint. I also sent an email to one of the addresses that came back on the read receipt requesting copies of the two letters I received from their officer, who I named from memory. She was the last person to contact me in December 2011. She was also the person who got me an answer after all...
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  • doyla66
    doyla66 says #
    Good to know
  • doyla66
    doyla66 says #
    That exact same question went through my mind. It sounds a little like they're doing less and less these days, now they're taken o
  • doyla66
    doyla66 says #
    Is it to simply "administer" licensing? Or, to publish brochures? I find their role is designed to be deliberately ambiguous. Soun
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