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Lord Sikka (Lab)

Speaking in the House of Lords on 26 March 2026

Debate

HBOS: Fraud Investigation

Contribution

My Lords, I thank the Minister for his reply. It would be helpful to have a bit of background. Fraud at HBOS goes back to 2002. The regulators did little. In 2017, the Thames Valley Police and Crime Commissioner secured six criminal convictions. Still the FCA, SFO and the police did not fully investigate. The Government left it to Lloyds Bank, which owns HBOS and which then appointed Dame Linda Dobbs to investigate and prepare a report. There has been no report to date. Victims are still awaiting compensation, and many have died since. Does the Minister agree that it is a government duty to deliver justice to victims of bank fraud?

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