The Right DA Club has announced that its member firms can now access virtual mortgage applicant fraud and quality masterclasses to help identify potentially fraudulent activity in the course of their client work.

The first session is set to take place online via Zoom next month, with the masterclasses showing advisers how to efficiently spot fraud during the mortgage application process and how they can also improve the quality of the cases they submit to lenders.

The masterclasses have been written, designed and delivered by financial crime specialist, Sally Waddingham, from Unity Financial Crime Services.

The sessions concentrate on interactive case studies, false document examples and guidance around required due diligence and good practice. Topics covered include identifying income fraud and spotting ‘red flags’ to take relevant action, plus detailed insight into identification and verification to meet regulatory requirements and to help spot false identity fraud.

The masterclasses will also look at the impact of Consumer Duty in the sector, particularly how client vulnerability can be linked to fraudulent activity, and Waddingham will provide hints and tips on cyber security within advisers’ businesses, protecting individuals and their clients.

Head of The Right DA Club, Chelsea Kiefert, said: "Anyone working in the mortgage industry is aware of the increased threat of fraud, particularly when there can be such large sums of money involved, should those fraud attempts be ‘successful’.

"It’s therefore absolutely vital that both individual advisers, and the firms they work for, are able to spot potential fraudulent activity and they have the right processes and systems in place to protect themselves.

"We are delighted to be able to put on these masterclass sessions and have Sally Waddingham give all those who take part a wealth of knowledge, information and support, on what to look out for, the ways and means by which a fraudster might use a mortgage application, and how best to protect everyone involved from such threats.

"This will count towards CPD and it will focus on tangible examples and case studies highlighting exactly the ways and means by which fraud can be perpetrated and also how advisers and firms can utilise that knowledge to deliver better quality applications to lenders."

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