Household HSBC Watch

It seems the FSA is busy in London. What theme seems to run through this article? It suggests there is a big difference between Islamic Finance in the Middle East and people named Mohammed running fraud schemes in London. In March, the FSA banned Andrew Talai Kiplimo, a mortgage introducer (a person who brings business from customers to brokers and lenders) from Ilford, after he was found to have put forward applications “supported by inflated income statements, false employment details and a false set of accounts and tax calculation”. And in February, similar action was taken against two partners of a mortgage broker and accountancy firm in Ilford. The FSA said Amjad Malik and Tahir Mahmood, of Abbaci Associates, had submitted false loan applications to lenders, and “pose a risk to consumers”.

Last month the FSA banned three east London brokers - Muhammad Adnan Ashraf and Muhammad Asim Iqbal, the directors of a Barking firm, and Mohammed Atif Mayo, a director of a firm in Forest Gate - for their involvement in home loan fraud.