Banks: Forged Customer Signatures

Lord Coaker Excerpts

Monday 16th January 2023 Lords Chamber

[Lord Sharpe of Epsom (Con)]

As I have just said, I am afraid that I am unable to comment on individual cases. I do not know the circumstances of this particular case, but I will find out more.

[Lord Coaker (Lab)]

My Lords, these victims of fraud by banks have been waiting nearly four years, following the initial statement from the Minister and others that they would look into this issue. One can only say that, if the banks were the victims of fraud, they would act a lot more quickly than they do when it comes to acting on behalf of their customers who are alleged to be the victims of fraud. I think what they want to hear from the Minister is what “imminently” means? Does it mean next week? Does it mean next month? Does it mean next year? These victims have been waiting too long for justice. It is about time the Government told the banks to get a move on.

[Lord Sharpe of Epsom (Con)]

My Lords, it is not the banks which need to get a move on. As I said earlier, the decision has been communicated to some of the complainants, but the Treasury Select Committee, certain remaining complainants and other relevant parties are not yet aware of the outcome. We should expect all necessary persons to be notified in the appropriate manner; beyond that, it would be unwise of me to comment on operational matters.