BEWARE of Fraud

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Fraud is alive and well in our industry.  Whether you are new or old to this industry, we all need to be vigilant, for the sake of our businesses.

The instances of false payslips, bank statements, wage staging are still out there, and even on the increase.  Lenders are taking extra steps to verify information, in many cases they are contacting the institution where the bank statements are purportedly coming from.

In several cases, Vision has terminated brokers with adverse circumstances.  This means that their time in the industry is OVER.  Many of you will be thinking  ’it is good to weed these brokers out!”  Whilst this is true, we want to express a few very important things to you:

  • Even if you are NOT involved in the misleading behaviour, it is NEVER good to be a broker who has unknowingly provided false documentation
  • Be on guard against false documentation – take extra care looking at documents you receive
  • Any new referrers need to be properly vetted by you
  • If you have ANY doubt about information you are receiving, please contact us immediately for help

WHAT IS VISION DOING?

  1. PD Day – we are having a session on fraud detection at our upcoming PD Days
  2. Illion – we are hosting webinars to show you how to implement the Illion system in your business.  This is a strong recommendation