PMS Mortgage Club

PMS launches crime prevention hub




PMS Mortgage Club has launched a financial crime and mortgage fraud prevention hub to help directly authorised firms to protect their businesses.

The hub — which provides guidance to help prevent potential fraudulent mortgage activity — helps to keep mortgage advisers updated on the latest emerging threats.

PMS has also joined up with its sister company Bankhall to provide access to additional support for firms that want to review their current processes and safeguards.

Information and guidance provided by the hub include:

  • the different types of fraud that advisers need to be aware of
  • good practice for working with introducers
  • guidance for BTL business and working with portfolio landlords
  • a checklist to help deal with potential mortgage fraud as well as other suspicious activity
  • links to organisations such as the National Crime Agency and Action Fraud for reporting fraudulent activity
  • lender insight on the latest issues and threats in the market
     

Jane Benjamin, director of mortgages at PMS Mortgage Club, said: “Mortgage fraud is an area of deep concern for advisers, and tackling financial crime has also been highlighted as a priority area by the FCA, including in [its] recently published business plan for 2019/20.”

Shaun Church, director at Private Finance, which played a key role in the development of the hub, added: “As PMS members, it’s important for us to work together in order to ensure that potential fraudsters do not have free rein within the broker community to dupe unsuspecting firms and their customers.”

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