"This case is deeply concerning": thieves use vulnerable man to secure PS28000 bank loan

Although, some will argue otherwise, There they opened a bank account in his name with his ID presented and signed forms completed, followed by his debit card being taken with them when they left. Later they applied to their bank for a business bounceback loan which they paid into his newly opened bank account. James lived in south London council flat with his deaf wife when his identity was taken without his knowledge or consent and caused lockdown issues due to this identity theft. Covid Support Grants were applied for, according to his father-in-law Steve Hall*. HMRC quickly understood these applications were unrelated to his son-in-law and stopped chasing for repayments, instead providing advice about Cifas (Credit Industry Fraud Avoidance System), an antifraud mechanism used as a warning signal against credit or loan applications submitted without verification by lenders. Metro Bank was unaware of James’ situation when his loan application was submitted in 2021; no alarm bells went off when default notices started arriving on his doorstep in late 2021, until default notices started arriving shortly thereafter and were explained to them by James and his family. The bank immediately granted their loan request without further investigation of James’ circumstances or possible default notices being sent out or addressed directly by them. Metro Bank refused to acknowledge it had been defrauded and instead blamed his son-in-law, refusing to reveal any information regarding how the loan had been taken out, or its repayment process; and demanded repayment immediately. “Getting details out of my son-in-law has been challenging – now it appears as though he may have been groomed by an illegal group”, Steve Hall alleges. His family visited their local branch several times while issuing several subject access requests – only finally discovering full information after Guardian Money’s intervention. “Initially I thought this must be another case of identity theft,” Hall states. “Trying to gain details out of my son-in-law has proven challenging but now appears that a gang may have recruited and groomed him to join their cause. “Through an old school acquaintance he encountered – of whom he knew little or nothing – he was assured work opportunities at a new business venture. “He was asked to bring his passport, was picked up from work in a Mercedes car, and forced to give up his phone before being transported to Metro’s Ilford branch where account paperwork would be completed – while all throughout this, his contact spoke for him by signing instructions over and over.” “Ultimately,” Hall notes, James was dropped back at a tube station where his bank card and phone had to be exchanged; once exchanged, both disappeared along with an amount estimated at PS28,000. Peter recalls that as soon as he got out of the car, someone signed and gave Peter their contact information; then instructed him to remain quiet while promising that someone would call back tomorrow about work they needed done; Peter never heard from this individual again.” “This case would hardly be unique; many vulnerable individuals have been used by people purporting to be their friends or offering high-paying work opportunities, according to Metro Bank. After The Guardian took up this cause, however, they agreed to write off their loan.” Photograph by Mike Egerton/PAThe family simply doesn’t understand how Metro was granted this loan. Hall notes that his son-in-law may have a steady job and reside in social housing; his assets consist mainly of two PlayStations; however, Hall is concerned why staff at the branch did not request identification from those accompanying him. “When we went into the Metro branch to try and obtain answers, all four of us had to produce ID, but apparently, whoever acted as interpreter while this loan was taken out didn’t,” Hall says. “How can a bank offer such an extensive loan without properly verifying who represents them is truly disturbing. Metro Bank announced in a press release issued after Guardian Money took up James’ case that it has decided not to pursue him further, due to new information coming to light which it previously hadn’t known of. Their investigation demonstrated how unscrupulous scammers can be; preying upon anyone for profit. “We would like to remind your readers not to be pressured into opening financial accounts and credit cards quickly or providing personal details such as passwords, account numbers, security codes or transfer money immediately. These signs could all indicate fraud – in addition to more obvious indicators like being threatened. “If in any doubt, contact your bank as soon as it’s safe for you and discuss your concerns.” Metro Bank policy does not mandate ID requests when an applicant for a significant loan comes to its branch, so this situation could easily happen again. As for their part, the family have asked Metro to learn lessons from this case but ultimately are pleased that their loan has been written off and move on.” “I recently paid PS75 as my annual Guardian subscription fee; which seems ridiculously inexpensive given all it offers me”, Hall says. Any attempt by another party outside these locations to transfer will be denied; make sure no one sees when entering your phone password to avoid being seen entering one themselves!