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Broker Talkback

Should lenders and insurers be allowed to use private detectives to check on clients that they suspect of fraud?

Yes – 75%
No – 25%

Yes “I do not really mind. If someone is telling the truth, then they would have nothing to hide. Provided it was all done in a fit and proper manner, I do not have a problem with it.”
Michael Sherrard, Sherrard Financial Management

Yes “I think that if someone is behaving proper and above board, they should have nothing to worry about. It is those that have done something wrong who would be against this.”
Christopher Taylor, Taylor & Taylor Financial Services

Yes “It is up to the lender. If they feel it is in their interests and it is necessary, then by all means yes. As brokers, we are in the middle of it so I can see both sides.”
Bipin Shah, Kimberley Financial Services

No “I am totally against it. There is enough surveillance these days and there are too many controls on people.”
Gerald Duthie, Online Financial Accountancy Services

No “A business can do whatever they want to so long as it is legal to do so, so my answer would be yes.”
Robert Stewart & Co

No “I think you have to take people at face value and accept their honesty but if you suspect someone, you can blow the whistle and let the others look into it. I do not think you should proactively go out and hire people to do it for you. But given what the FSA is asking, you would have to ask whether it is safe not to.”
Ken Whitworth IFA

Yes “Although it depends at what point. If it is on a claim, then I do not see why not as it is the innocent people who end up paying for the fraudsters.”
Keith Emery, R S T Financial Consultancy

Yes “If it is protecting and cleaning up the industry of fraud, I agree.”
Gary McKinley, Wealth Solutions

Money Marketing welcomes readers’ letters for publication. Letters should be sent to: The Editor, Money Marketing, 50 Poland Street, London, W1F 7AX.

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