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Tiner warns lenders they should not be complacent over self-cert

Speaking at the Building Societies Association&#39s annual conference in Manchester today, FSA chief executive John Tiner told delegates that there is no room for complacency over self-certification mortgages.

Tiner said that although the FSA&#39s investigation into self-cert concluded that lenders&#39 systems and controls over such lending were broadly adequate to counter the risk of financial crime, he nonetheless expects all regulated firms to have in place systems to detect and report attempted frauds to the relevant criminal authorities.

He said: “That implies a need for you to look critically at the information provided by borrowers to check that it is plausible and internally consistent, rather than just accepting it at face value.”

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