Police investigate fresh RBS complaint
Police are investigating a complaint made against Royal Bank of Scotland over alleged misconduct at its Global Restructuring Group (GRG).
Last night, the bank, whose current chief executive is Ross Mcewan, said it was aware that police are “reviewing” a complaint.
A spokesman said: “RBS is not privy to any details
but will co-operate with any request for information made by Police Scotland.”
Police Scotland said inquiries “were ongoing to assess if there is any criminality present” in the allegations made against the bank.
GRG was the part of RBS with the task of helping small businesses. However, some customers and MPS have accused it of mistreatment.
It has also been reported that a document, obtained by a national broadcaster and widely circulated in one division of GRG, speaks about staff extracting revenues from struggling small business customers instead of trying to reduce their debt.
The memo, called Just Hit Budget, talks of applying very high interest rates which could then be cut if customers signed over a stake in their business or property.
One line says: “No deal, no way. Missed opportunities will mean missed bonuses.”
The bank has described the language in the leaked memo as “wholly inappropriate”.
City watchdog the Financial Conduct Authority (FCA) has also said that it plans to publish a report into allegations of the mistreatment of customers by GRG before the end of the month.
Police Scotland was reportedly asked last year by prosecutors to examine GRG’S handling of clients, with its economic crimes unit gathering evidence to see whether there might be sufficient evidence to pursue a criminal investigation against the bank.
No charges have been brought and no formal investigation has been launched.
The FCA has looked into the allegations of misconduct at GRG and has agreed to allow a legal adviser to study its report.
Norman Lamb, vice-chair- man of the All Party Parliamentary Group on Fair Business Banking, said: “This shows that within RBS there was a culture of no real interest in rescuing companies.
“There was an interest in maximising bonuses and improving the balance sheet.”
Mr Lamb added: “There needs to be an urgent inquiry into this.
“It’s a blueprint for abuse of business customers in the most shocking way.”