Australian regulator uncovers coordinated mortgage fraud affecting multiple lenders
AUSTRAC has discovered coordinated mortgage fraud and systemic weaknesses across Australia's lending sector, potentially involving hundreds of millions of dollars.
Australia's financial intelligence regulator has uncovered coordinated mortgage fraud and identified systemic weaknesses across the country's lending sector. The suspected fraudulent loans could be worth potentially hundreds of millions of dollars. New Zealand regulators are spending increasing time on mortgage fraud cases as the issue gains attention across the region.
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'Potentially hundreds of millions of dollars worth of suspected fraudulent loans'
AUSTRAC 'uncovers coordinated mortgage fraud and systemic weaknesses across Australia’s lending sector' as NZ regulators spend more time on mortgage fraud cases