Banks: Forgery

Treasury written question – answered on 2nd December 2021.

Alert me about debates like this

Photo of Lord Sikka Lord Sikka Labour

To ask Her Majesty's Government what progress they have made in (1) investigating, and (2) prosecuting, allegations of banks forging customers’ signatures.

Photo of Lord Agnew of Oulton Lord Agnew of Oulton Minister of State (HM Treasury), Minister of State (Cabinet Office)

The Government expects all companies to obey the law and relevant regulations. Anyone with evidence of such forgery taking place should report it to their bank in the first instance. If their concerns remain, or they do not have a direct relationship with the lender, they should report it to the relevant authorities.

Although the Treasury sets the legal framework for the regulation of financial services it does not have investigative or prosecuting powers of its own and is not able to intervene in individual cases. The Financial Conduct Authority (FCA) requires all authorised firms to have systems and controls in place to mitigate the risk that they be used to commit financial crime. Whilst the police have primary responsibility for investigating fraud the FCA also has powers to take a variety of enforcement action against firms that carry out fraudulent activity.

The National Crime Agency (NCA) is continuing to assess the material submitted by the Bank Signature Forgery Campaign and information obtained following preliminary enquiries to clarify matters with certain members of the public who had raised the issue. The NCA is making a thorough assessment to determine whether there are grounds for a criminal or regulatory investigation.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.