Quote Originally Posted by stoploss View Post
http://www.stuff.co.nz/business/worl...ome-loan-fraud

How many suspect loan could there be in Auckland ?
Why worry about what's going on outside the bank when it's an industry that incentives people to diminish the quality of it's own loan book? I think it was W. E. Deming who wrote that "People with targets and jobs dependent upon meeting them will probably meet the targets - even if they have to destroy the enterprise to do it." If banks have a blind spot it's looking at what is going on inside their own organisations:
Based on existing investigations and mortgage fraud reporting, 80 percent of all reported fraud losses involve collaboration or collusion by industry insiders.
Linky. Other Linky related to Australia.

Also you sort of have to expect a higher level of fraud and corruption when doing business in Asia.