personal finance

MPs demand investigation of ‘fake signatures’ claims


The UK’s National Crime Agency and the Financial Conduct Authority have been called on to investigate allegations that bank workers faked signatures on court documents to recover debts and repossess homes.

MPs on the Commons Treasury select committee have written to the two bodies to request they review evidence gathered by campaigners.

In February this year, Guardian Money revealed allegations from the Bank Signature Forgery Campaign, which alleges that a multibillion-dollar scandal that played out in the US is being repeated in the UK.

The central allegation is that signatures on court documents have not been signed by the person whose printed name appears under the statement of truth.

Banks are allegedly linked to documents with questionable signatures. In some cases, people were evicted as a result. It is claimed that some employees at law firms acting on behalf of banks or their representatives may have faked them to speed up the legal process.

Last month, Treasury committee member Steve Baker MP said: “I have been shown various signatures that demonstrate that it is clearly the case that within some institutions, processes are taking place where it appears that anyone is signing these documents. Whether or not the repossession is justified, it does seem that is therefore a fraudulent transaction.”

The committee chair, Nicky Morgan, wants the NCA and FCA to review evidence gathered by campaigners and carry out further probes if necessary.

The FCA chief executive, Andrew Bailey, recently appeared before the Treasury committee and said he was aware of the issue. He has committed to looking at the evidence.

In the US, fake signatures on documents after the housing bubble burst in 2006, were among the “reckless and abusive mortgage practices” that resulted in a $25bn (£20bn) settlement between lenders, the government and most states in 2012.



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