"My Lords, I rise briefly to add my support for Amendment 3, which would require any information notice to include a statement that the notice does not imply that the person named is guilty of fraud. This is important because a bank that believes a person is guilty of fraud …..." Lord Vaux of Harrowden - View Speech
"My Lords, we have a lot of discussions in this House about the difference between “may” and “must”. I think in this case it is very important. It is essential that the independent reviewers, who are such an important safeguard throughout this Bill, are provided with all the information that …..." Lord Vaux of Harrowden - View Speech
"My Lords, I speak very briefly in support of Amendment 2. Before I start, I would like to echo the words of the noble Baroness, Lady Finn, about the exemplary engagement on this Bill, which has been extremely constructive. I am very grateful to both noble Baronesses for that.
"My Lords, I am generally supportive of all the amendments in this group, but particularly Amendments 17 and 22. This Bill, and particularly this part of it, impose a range of onerous obligations on the banks and other financial institutions that are affected by it and that have to respond …..." Lord Vaux of Harrowden - View Speech
"My Lords, studies indicate that between 50% and 80% of cyberattacks result in the payment of a ransom. Ransom amounts are probably well over £1 billion a year, so it is no great surprise that cyberattacks are increasing: it pays well. Have the Government considered making the payment of ransoms …..." Lord Vaux of Harrowden - View Speech
"I confess that I am slightly confused. The Minister rightly referred to the Data (Use and Access) Act, and we spent a lot of time then discussing the introduction of digital verification services. At the time, those were described as having pretty much the same benefits as are described in …..." Lord Vaux of Harrowden - View Speech
"The Minister quite rightly mentioned young people and the importance of opportunities for them, but there seems to be increasing evidence that entry-level opportunities are reducing and that it is becoming more difficult for young people to take that all-important first step into work. So can the Minister explain why …..." Lord Vaux of Harrowden - View Speech
"My Lords, I thank the Minister for introducing these regulations. It is good to hear from him on the progress Companies House is making in cleaning up the register and the process of verification, although, as the noble Lord, Lord Sikka, has just demonstrated so clearly, it is a work …..." Lord Vaux of Harrowden - View Speech