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Quarter of brokers witness attempted fraud – poll

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  • 08/08/2013
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Quarter of brokers witness attempted fraud – poll
A quarter of brokers have witnessed an attempt at fraud at their business in the last six months, the latest Mortgage Solutions People’s Poll has found.

The news comes as industry leaders warned brokers about the dangers of using informal introducers and how brokers can face severe penalties even if genuinely misled.

Goldsmith Williams partner Eddie Goldsmith said the question of whether attempted fraud had taken place depended in part on the reaction of the broker: “If a client says they are going to inflate their income, and the broker says yes, that is conspiracy to defraud.

“If the broker says it is unlawful, and the client doesn’t do it that would never come to light because the client hasn’t actually done anything.”

The proportion of brokers who witnessed fraud at work was lower than in Mortgage Solutions’ previous poll on the subject, in which over two-fifths of brokers reported seeing or being aware of attempts at fraud.

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