Question

Mark is a Finance Broker, assisting his clients, Stephen and Vivien Lee in the purchase of a Sydney CBD apartment. Stephen is a long-term client of Mark, who has provided credit assistance in relation to financing vehicles for Stephen’s car rental franchise. Vivien works as a manager in her sister’s restaurant. Mark has only met Vivien once before. At that first meeting, Vivien made a good first impression and Stephen considers her trustworthy. Both Stephen and Vivien’s incomes were required to service the new loan. After submitting the loan, while tidying up the hardcopy documents the Lees had provided him, Mark notices something odd with the payslips from Vivien’s job. Mark believes the payslips are fraudulent. The loan has been submitted, (it has not yet been approved), and Mark believes, from the bank statements provided, there is sufficient income to service the loan. Mark wonders what he should do.

Answer 1

Mark should report the suspected payslip fraud to the appropriate authorities.

Step-by-step explanation:

When Mark noticed something odd with Vivien's payslips, he believed they were fraudulent. In this situation, Mark should report his suspicions to the appropriate authorities, such as the police or his local banking regulatory agency. It is important for Mark to act ethically and ensure that the loan application process remains fair and transparent. By reporting the potential fraud, Mark is taking the necessary step to protect the interests of the bank and maintain the integrity of the loan approval process.