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Why loan application fibs are about to get more risky

28 September, 2022 | 

Originally published: The Age, 25 September 2022

More than one-in-10 Australians admit that they have knowingly omitted to declare a liability or debt on a loan application, according to a new survey.

And almost one-in-five believe it is okay to tell a “white lie” and state they have less debt than they actually have when applying for a loan or financial service.

The Pureprofile survey of more than 1000 Australians conducted in July, found just 22 per cent of respondents said they were “very confident” in understanding the rules, legislation and consequences of lying in a financial service or loan application.

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