Expo 2010: Brokers “must beware fraud or be struck off”

Expo 2010: Brokers “must beware fraud or be struck off”: "Brokers have been warned that there will be no second chances if they are found to be colluding with a client to commit mortgage fraud in any way. John Malone, executive chairman of PMS, told attendees of the Mortgage Business Expo that cracking down on mortgage fraud is a key priority for lenders, the FSA and the Metropolitan police, because it has become so rife within the industry and is funding serious criminal activity.
Fraud across all sectors costs the country £30bn per year.
Malone said that something as simple as telling a lender that they have met a client face-to-face when they have not could see a broker kicked out the mortgage business."