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Monday, 30 November 2015

HSBC Whistleblower: The Biggest Bank Fraud in British History Carried Out on UK Shoppers and Covered Up

Real Media 


“In my position, as you can imagine, I’ve got a few enemies.” An anonymous tip off has contacted the DWP to suggest that Nicholas Wilson is frauding the benefits office. “They sent a letter calling me in for a compliance interview.”

The irony is that Nicholas Wilson is a whistleblower, who has been trying to expose what would be the largest bank fraud in the history of the UK, totalling over £1bn. This is made up of illegal charges imposed by HFC Bank – previously a subsidiary of HSBC, onto unsuspecting UK customer debts on high street store cards.

“Everything I do on my campaign with HSBC, it’s all about fraud and corruption and underhand dealings. I do everything up front and transparent and that’s how I have to be. I haven’t got anything up my sleeve.”

Wilson was head of debt recovery for Weightmans LLP – a national solicitors firm which acted for John Lewis – for over 25 years. However, in 2003 when John Lewis sold their accounts to HFC Bank, Wilson noticed they immediately began adding “collection charges” of 16.4% to customer store cards in arrears. These charges were illegal.

Wilson spoke up, complaining to staff and colleagues and refusing to work on the HFC account. The charges were being applied to customers already in debt and hardship; a fraud by the second biggest bank on the some of the nation’s poorest, and yet for standing against this, Wilson’s boss dubbed him ‘Mr Ethical.’

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