Tag: mortgage fraud prevention
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ASIC Pursues Legal Action Against RAMS for Loan Misconduct
The Australian Securities and Investment Commission (ASIC) is taking legal action against RAMS Financial Group, a subsidiary of Westpac, for alleged misconduct related to home loans. The regulator accuses RAMS of systemic wrongdoing, including falsifying documents such as payslips and expenses to facilitate loan approvals. This misconduct allegedly occurred over several years, indicating a failure…