A mortgage director has been find £17,500 after more than 220 of his firm’s customers were left exposed to mortgage fraud.

Noel Smith from Andrew Copeland Mortgages failed to pay attention to advice from the Financial Services Authority(FSA), leaving his business open to the risk of being used to further financial crime.

The FSA said Mr Smith’s “poor management controls and compliance monitoring” had put the South Norwood company in danger.

Mr Smith, whose business is based in Portland Road, South Norwood, has also had his FSA approval to perform management functions withdrawn.

Margaret Cole, the FSA’s director of enforcement and financial crime, said more suspects were being shopped as a result of the body’s Information From Lenders scheme.

She said: “Mortgage fraud is a crime and we take any failings that put customers or lenders at risk of it very seriously.”