A mortgage fraud case has opened in Glasgow and the amount could reach as much as £3.2m. Institutions believed to be affected inlcude HBOS, which operates the Halifax and Bank of Scotland brands, and Lloyds TSB. A total of nine people have been arrested.
www.searchifa.co.uk
A recent BBC report put UK mortgage fraud at around £700m and the attraction was that it was a low risk activity. One surprising issue is how some solicitors and accountants are prepared to risk their professional status by indulging in mortgage fraud.
Later note: the problems of Bradford & Bingley apparently have included fraud amounting to £15m.
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