FSA urges lenders to engage with IFL scheme

The Financial Services Authority has urged to lenders to engage with the Information from Lenders scheme as far as possible in order to stamp out mortgage fraud.

At the FSA’s Financial Crime Conference today, Bob Ferguson, head of financial crime and intelligence at the FSA, spoke of the importance of intelligence in supporting the regulator’s enforcement function.

He says: “Mortgage fraud is a great example of a public and private sector partnership in this, as the IFL scheme has enabled us to kick out dozens of corrupt brokers from regulated activity.

“The more lenders that engage with the IFL scheme, the happier we will be.”