MFAA warns brokers against dodgy emails

by 06 Feb 2014

The MFAA has issued a warning to brokers over ‘unsolicited email approaches’ received by some members, and cautioned members to do due diligence in transactions.

“Further to the many warnings issued by the MFAA, by aggregators and from articles in the trade media, members are still receiving unsolicited email approaches with offers of leads and 'databases' for sale,” said a statement by the MFAA.

“While most operators are principled and fair in their dealings, the MFAA has received complaints of recent approaches from vendors who appear unwilling to identify themselves.”

Australian Broker recently published a series of articles detailing these types of scams currently circulating in the industry.

The MFAA reminded members that the industry body is unable to pursue matters such as scams involving the purchase of leads or trail books from “unscrupulous non-member vendors – especially where the victim failed to take reasonable precautions”.

The industry body instead issued some “common sense advice”.

“The MFAA recommends that members should only deal with operators who clearly identify themselves and allow the prospective purchaser to undertake reasonable due diligence on both the vendor and on any product on offer.

“Once the vendor has been appropriately verified and the goods or services on offer are considered to be genuine, exclusive and of reasonable value should you enter into any negotiations for purchase.

“If you have paid for goods or services which are not delivered (nor refunded if delivery fails to occur), you should lodge a complaint with the relevant state department of consumer affairs/fair trading and the state police service if a fraud has been perpetrated.”

COMMENTS

  • by Broker 6/02/2014 3:48:47 PM

    Perhaps a tad ( like a few years) late MFAA, assuming that you are referring to Mark Wittingham.