Join the FSA on fraud

Speaking at the Mortgage Business Expo Manchester, Bob Ferguson, head of financial crime policy and intelligence at the FSA, urged lenders to help the FSA tackle the issue of mortgage fraud via active participation in its Information from Lender’s Project.

Lenders were not alone in the call for more anti-fraud activity with brokers also highlighted as having a full part to play in the industry-wide battle to stop instances of fraud.

Ferguson said: “There are currently 35 lenders involved in the project and the question we are asking is why they aren’t more sharing this valuable information with the FSA? There is also a dedicated resource for brokers to report any potential fraud and again we urge intermediaries to get in contact with any issues they may be experiencing.”

Ferguson also pointed out that the issue of fraud spreads further than just lenders and intermediaries with solicitors, surveyors and accountants among the other sectors potentially involved.