Finsure terminates contract with Hai Money amid ongoing fraud investigations

Numerous sources, together with a dealer that had been working underneath Hai Money’s license, confirmed the information to MPA on Thursday. It has been confirmed by MPA that this Melbourne-based dealer acquired a notification for redundancy from Hai Money.

Hai Money operates as its personal entity, with its personal credit score license, separate from Finsure. But brokers working underneath Hai Money had entry to Finsure’s huge lender panel, which incorporates Commonwealth Bank, ANZ and different main lenders.

Hai Money has an estimated 200 brokers underneath its license. It is known that these brokers are scrambling to affix one other aggregator to be able to resume operations.

A Finsure spokesperson stated they’re unable to remark right now. Hai Money has been approached for remark.

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