White Collar Crime - How Its Done. Part1.
Id firstly like to thank Australian Citizens, Denise Brailey below and Senator Barry O'Sullivan - left, for the latest input that pointed me to identify the final pieces in a puzzle as to "Why You Need To Make an MSC" or Mortgage Securitisation Claim
You need to get a DSAR, Data Subject Access Request and understand what information that brings to the trained eye. This is step 3 of the MSC.
The UK financial system processes roughly follow the Australian processes and may slightly vary from Bank or lender to lender but essentially its the same problematic issue from a high level perspective.
The Banks as a Cartel operate in a similar fashion.
These practices need contesting and addressing before systemic failure of the monetary system is upon us again.
The Australian property market has highlighted the issues and given the warning sign that we are to see 2008 repeat itself but on a grander scale.
References to Australia's outcome of a Banking Royal Commission can be found within other articles on the blog site.
Where comparisons to UK real life scenarios are required we will be using the North Wests, Dylan Harvey Residential experience that brought me personally to this point and eventually operating Tangent Property Services Ltd then Mortgage Securitisation claims MSC through Legal Quest.
Firstly, lets look at the mapping behind the problem and understand why its been allowed to go on so long to date.
As all investigations identify in time, to find the true cause and culprits you need to "follow the money"
Watching films such as The Big Short, Margin Call and Inside Job help give you the background and foundation to understand events as they happened.
Id recommend all three but start with Inside Job which is a documentary narrated by Matt Damon. Excellent watch.
Relevant clips from the films will be referenced here.
On Tuesday 18th September 2018, I met other SME Alliance members for their 4th Anniversary and received an update on events to date tackling the wider issues identified in the Lloyds, RBS, HBOS, Global Restructuring Group GRG, RBS Bristol and other banking scandals that are not isolated incidents as some banks would have you believe.
The panel were a mix of MP Kevin Hollinrake, Professor of Banking Law, David McILroy, Journalist James Hurley and Noel Edmunds of TV and Radio fame. John Welsby managed the event with Chair Nick Gould and Nikki Turner provided a general update on events.
Recent emails and tweets with Denise and her Banking and Finance Consumer Support Association BFCSA helped me identify or bring clarity to the grey areas after she has taken 18 years investigating the impact of White Collar Fraud in Australia.
A really open and honest view of where we are in the UK was delivered by Noel Edmunds ex Radio 1 DJ, Entrepreneur and as he put it best known as the creator of Mr Blobby, but now hes synonymous with highlighting the business dealings of Lloyds bank.
I sat next to a mum of two who had been a whistle blower working in mortgages for a leading bank who could no longer carry out her duties after asking too many questions.
She had been exited/ made redundant then sought a tribunal but as we now know that banks have bottomless pockets when it comes to protecting the "Bigger Picture" .. No progress was made there, she is fighting her case many years on.
If there are areas you can see that need additional elements please mail or contact me through the Tangent Site Contact details. The picture comes into focus with input from sources inside and outside of the finance world.
Personally im not a legal representative but a Business Analyst and IT Project Manager with a problem to solve, mapping the processes and supporting documents in the UK.
Attempts to report the fraud and misrepresentation fell on deaf ears 2008 to 2014 and a serious lack of desire to uncover what we are now seeing what is a greater systemic fraud as witnessed in the Australian market.
The Tangent site is more of a solutions destination based on experiences in the property sector as an investment vehicle.
When you think you are stuck i have learned that there is always a way forward when you talk to the right people.
In recent years i have met many that have provided the solutions i can now offer through Tangent.
In the past I faced a number of financial issues through being on the wrong end of the mis selling of "investment property" 2006-2007. This is when you start to learn how things really work. Or don't work.
My latter property investments were financed by interest only unregulated products and when you understand the bigger picture through this series of articles you will be able to understand why they were unregulated therefore FCA or FSA at that time did not wish to get involved.
I feel this will change as the net closes in on the Banking system, its practices and its regulators in the UK.
The Banks and Regulators had access to the bigger picture but allowed 2008 to happen.
Don't rock the the financial systems boat.. You'll spoil the party.
As we will see in supporting and linked articles we are to go through this cycle once more but the UK can prevent its impact if they know what to do.. Icelandic Scenario, Revalue Gold and use as the standard for the reserve currency, SDR Special Drawing Right or even use the Bradbury £ as in previous uncertain times.
Initially though get your mortgage checked get a DSAR.