Banks: Forged Customer Signatures

Baroness Blower Excerpts

Monday 16th January 2023 Lords Chamber

[Lord Sharpe of Epsom (Con)]

My Lords, no, I do not accept that the enforcement organisations and the regulator are underresourced with regard to these matters. The Government are increasing law enforcement investigative capacity to tackle fraud. The 2021 spending review allocated a further £400 million to tackle economic crime, including another £100 million for fraud, which includes greater fraud investigative capacity in the NCA. There are a number of other sources of funding and government efforts and initiatives on this subject that I could go into, but the answer would be a long one.

[Baroness Blower (Lab)]

My Lords, rather than an independent investigation of fraud at HBOS, the Government have passed the buck to HBOS’s parent company, Lloyds Banking Group, to investigate. In April 2017, Lloyds appointed Dame Linda Dobbs to conduct a review, and a report was promised within a year. Nearly six years later, there is no report and no compensation for victims. Is the Minister satisfied, or is he rather ashamed? What prevents that inquiry being launched?

[Lord Sharpe of Epsom (Con)]

My Lords, the Minister is neither satisfied nor ashamed. I do not know the circumstances of that particular case. I am unable to comment on individual cases, but I will make further inquiries.