How can brokers identify and stop mortgage fraud?

About this episode

The episode discusses how brokers can identify and prevent mortgage fraud, featuring insights from industry experts.

2024 saw a record number of fraud cases filed with the National Fraud Database. While mortgage fraud still represents a small proportion of overall UK fraud, there is a reported 5% increase in the number of mortgage fraud cases involving false application. In the latest instalment of the Barclays Mortgage Insider Podcast, host and property expert Phil Spencer is joined by Mike Haley, CEO of CIFAS, and Nicola Mawby, Financial Crime Manager at Mortgage Advice Bureau. Together, they examine the different types of mortgage fraud, including application fraud, manipulated income, identity misuse, money laundering and scheme abuse. The discussion goes beyond definitions to ask the crucial question: why do people commit fraud in the first place? The discussion also considers who bears responsibility in mortgage fraud cases and the long-term impact of CIFAS markers for those found guilty of deception. With technology and AI enabling more sophisticated false documentation, and affordability pressures prompting opportunistic behaviour, the conversation reinforces why brokers are the first line of defence. This episode delivers practical insights, expert guidance and real-world examples to…

People in this episode

Host: Phil Spencer

Guests: Mike Haley, Nicola Mawby

Topics covered

• mortgage fraud
• application fraud
• financial crime
• technology in fraud
• broker responsibilities
• real-world examples

Keywords

• mortgage fraud
• fraud cases
• false application
• financial crime
• CIFAS markers
• identity misuse
• money laundering
• application fraud

Mentioned in this episode

Organizations: CIFAS, Mortgage Advice Bureau, National Fraud Database

Places: UK

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