Banks: Forged Customer Signatures

Debate between Lord Greenhalgh and Lord Sharpe of Epsom

Monday 16th January 2023 Lords Chamber

[Lord Sharpe of Epsom (Con)]

My Lords, I do not believe that they are toothless tigers. As I have said a number of times regarding capacity and resources, a great deal is being done. There will be significant improvement to the National Economic Crime Victim Care Unit over the course of this year, and I would be happy to answer more questions on that.

[Lord Greenhalgh (Con)]

My Lords, does my noble friend the Minister recognise that it is not the banks that we should be aiming at but the fraudsters themselves. The City of London Police, the Metropolitan Police and the National Crime Agency do a fantastic job. However, in some ways, Action Fraud should be renamed “No Further Action Fraud”, because we need more resources. This crime is getting greater. Let us not turn our fire on the banks but go after the fraudsters.

[Lord Sharpe of Epsom (Con)]

I completely agree with my noble friend that we should look at the fraudsters. Regarding Action Fraud, we are providing £10 million to the City of London Police this year to support the upgrade in the Action Fraud service. A project is under way to transform the Action Fraud website, where the public can report fraud and cybercrime. That is part of the continuous improvements to the national service, which will be fully upgraded by 2024.