Bank ‘forged’ guarantee signature of distressed customer, rules High Court
Allegations of bank staff forging signatures that would allow them to enforce recovery and repossessions against vulnerable customers have festered for years in the United Kingdom, while authorities in the United States and Australia have uncovered alarming levels of such practices. Now, the English High Court has upheld a claim, reports Denis O’Connor.
Denis O’Connoris a fellow of both the Institute of Chartered Accountants in England & Wales and the Chartered Institute of Securities and Investment. He was a member of the British Bankers’ Association Money Laundering Committee from 2003-10 and a member of the Joint Money Laundering Steering Group’s board and editorial panel between 2010 and 2016. He has been a frequent speaker at industry conferences on financial crime issues, both in the United Kingdom and abroad.
The High Court recently ruled that a challenger bank, Aldermore, cannot enforce a personal guarantee to recover £1.2 million
against a businessman, Roderick Lynch, as the signature on the document was not his.  Rather, the Court found “the signature
was signed by a person at the bank”. As a result of the Court’s ruling, many questions will arise.