Asked if they had encountered fraud during dealings with a customer, introduced business or even a colleague, 56% of respondents said they had.
AMI chief executive Robert Sinclair said: “The issues around this market in particular are that if somebody can get away with fraud, the amount of money they can get away with is significant – therefore they are going to try.
“We are aware that there is a lot of organised crime in the mortgage marketplace and since half the market is brokers we are going to see some of it.”
It would be interesting to see when the experiences of fraud had occurred, he added. “We have done a lot in the last couple of years to raise the issues around fraud in the marketplace. Brokers are more aware of their responsibilities and also attempted fraud is more likely to get caught.”
Mortgage Solutions has been examining fraud in the mortgage marketplace this week. To see more Fraud Week stories, click here.
