can you get done for application fraud?

bery_451

what is the jail sentence for this or is it a fine or community service?

Bernard_Coleslaw

Yes. You can get done. Lenders are hugely sophisticated and can spot attempts a mile off.

The penalties can (and do) go all the way up to imprisonment. Having a fraud conviction will mean you can kiss goodbye to obtaining credit, seeking most forms of paid employment or being a Company Director.

You do not even want to go there.

BC

jonesMUFCforever

In the good old days when applications for loans were done on a paper application I used to have loads of fun with some customers!
Some would submit an application with a certain salary and would get turned down for whatever reason. Sometimes they would re-submit an application a few weeks/months later with a hugely inflated salary and I would crease myself when congratulating them on such a salary increase but still turned them down!

Nowadays everything is done electronically and leaves a footprint on your credit file so beware - fraudelent application these days means a visit from the plod.

Symbeaux1

Depending on the circumstances , it would be called obtaining pecuniary advantage by deception, and is indictible. (meaning could carry a prison sentence.)

as400

It really depends on the extent of the activities.

If you have made multiple loan applications recieved the monies and the fraud has become apparent then yes chances are the case may be referred to the police.

If you told a fib about how long you have been employed or something similar trivial I wouldn't loose any sleep over it. The police are far too stretched trying to find £50,000,000 to worry about chasing you for some such trivia.

"Having a fraud conviction will mean you can kiss goodbye to obtaining credit, seeking most forms of paid employment"

That's just rubbish.

maforduk

Are you taking the mick asking this question?

Bernard_Coleslaw

as400 wrote:

If you told a fib about how long you have been employed or something similar trivial I wouldn't loose any sleep over it. The police are far too stretched trying to find £50,000,000 to worry about chasing you for some such trivia.

"Having a fraud conviction will mean you can kiss goodbye to obtaining credit, seeking most forms of paid employment"

That's just rubbish.

Wrong. Wrong on so many levels it's untrue.

Perhaps you would like someone to explain National Hunter to you?

BC

dchurch24

Could you explain it to me (National Hunter) - I'm intruiged.

Bernard_Coleslaw

Without going into too much detail, it's a system where lenders of all types in the UK are able to share details about credit applications. This would typically include mortgages, personal loans, credit cards, current accounts, etc.

As well as multiple applications, any inconsistencies (such as "telling a fib" to one lender about how long you've been employed) will show up.

I think there's a similar system in place for insurance proposals.

Telling lies on credit applications is just not worth it - and it's certainly not trivial.

BC

dchurch24

That's fair enough. I once got 'collared' by Capital One in a service station whilst my partner was 'otherwise engaged' and so told the lady my details, she asked if I had been at my address for 5 years, and if not what was my previous address - at that point, my partner came back, so rather than waste any more time, I said "yes, I've been there 5 years" as I couldn't be bothered to go through where I used to live, and how I couldn;t remember the postcode etc...

A few weeks later I got a decline letter, as they couldn't verify my address for the past 5 years!!

I hope that doesn't go down as 'lying' - I didn't even want the card - the woman was most insistent that I complete an application, so I did to shut her up.

merch

Found this link... https://www.fsa.gov.uk/pages/Library/Communication/Speeches/2005/0627_ey.shtml