Lenders should see original documents to foil the fraudsters
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I read with interest that the National Fraud Authority and the Metropolitan Police have brought together all the key partners in the mortgage community to establish the Mortgage Fraud Forum (Mortgage Strategy Online).
Fraudsters need access to false documents such as payslips, P60s, passports and driving licenses that are virtually indistinguishable from the real thing. By using the internet such items can now be easily obtained.
I am unsure how fraud using these items can be detected unless lenders insist on seeing the originals of all documents.
At present they rely on advisers to certify the necessary documents, or do not request them at all.
I suggest that it should be down to lenders to insist on seeing original documents, but can see that there would be serious resistance to doing this.
PAUL TOLLIDAY
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