Banks: Forgery

Lord Ponsonby of Shulbrede Excerpts

Thursday 30th June 2022 Lords Chamber

[Lord Sharpe of Epsom (Con)]

My Lords, I do not think it is just about officials; it is also about legislation. Obviously, we passed one Act earlier this year at speed. The noble Lord will be aware that there is another economic crime and corporate transparency Bill on its way which deals with many of the unresolved issues from those debates and that Act.

[Lord Ponsonby of Shulbrede (Lab)]

My Lords, yesterday’s Times newspaper reported that money lost to scams had risen by more than £160 million in a year, from £420 million to £583 million, which is a huge increase. Can the Minister say when we might expect the financial services and markets Bill to come before Parliament and whether that Bill will be directed to tackling fraud?

[Lord Sharpe of Epsom (Con)]

I am afraid that I cannot answer that question; I will try to find out and write to the noble Lord.