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FCA pressed on forged bank signatures for repossessions investigation

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  • 15/10/2020
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FCA pressed on forged bank signatures for repossessions investigation
The Financial Conduct Authority (FCA) and National Crime Agency (NCA) are being pressed by MPs for the results of their investigations into banks using forged signatures to obtain property repossessions.

 

Treasury Select Committee (TSC) chairman Mel Stride has written to the FCA and NCA calling for an update on the progress of their investigations after more than a year of near-silence.

Allegations of potential criminal activity where home repossession and other documents were not being signed by the authorised signatory were raised in the middle of 2019.

This prompted the Treasury Select Committee (TSC) to contact the FCA and NCA in July 2019 requesting they engage with the Bank Signature Forgery Campaign to review the evidence and investigate.

Since then there has been little word about the action and course of the investigations.

In today’s letter, Stride is asking specifically for:

  • The FCA’s and NCA’s engagement with the campaign
  • The FCA’s and NCA’s work and findings so far
  • The regulatory breaches and offences that may have occurred, and any regulatory or legal arguments that are being considered.

Stride wrote: “Given the time that has past, I would now welcome an update on the FCA’s progress.”

He added: “I am aware that there will be sensitivities around some of this information, but I would welcome as much information as you can provide.”

An FCA spokeswoman said: “We have received the letter and will respond to the TSC.”

An NCA spokeswoman added: “We are continuing to assess the material, including additional information supplied in September.

“Together with partners in the FCA and Serious Fraud Office, we are making a thorough assessment to determine whether there are grounds for a criminal or regulatory investigation.”

 

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