Mortgage News
TME2011: Fraudsters targeting brokers as “easy” access point – AMI
Criminals view advisers as an “easy” route to committing mortgage fraud so brokers must stay vigilant and report suspect clients, AMI has warned.
Robert Sinclair, director of the broker trade body, told The Mortgage Event in Reading today that criminals are seeking out any way they can of obtaining funds, as lenders get increasingly tough on fraud.
He said: “Criminals are pushing hard and they see brokers as an easy way in. They will use you as a conduit to access the industry.
“If you have suspicions about a client, you must report it. If you don’t know where to go, talk to AMI and lenders.”
Sinclair said that lenders have woken up to the threat of fraud, particularly given the pressure from he government to tackle the issue.
“There is a big argument about what is hard or soft fraud. But no fraud is acceptable. Brokers have to be very careful not to get sucked in. If you get found out, you will be struck off a lender’s distribution list and you will lose your ability to trade with that lender,” he said.
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Click here to watch AMI director Robert Sinclair’s interview on the MMR