RBS denies falsifying redress documents

The still 73 per cent state-owned bank refuted the claims made by The Times newspaper that it doctored records sent to independent reviewers, including a record of a sales call that never took place.

The newspaper cited what it described as ‘secret documents’ which were provided by the bank to “independent reviewers” who oversaw redress payouts to victims including a “record” of a sales call that never took place.

According to the report, the documents seen by the paper included potentially misleading bank sales literature and an allegedly bogus email.

The newspaper’s investigation also claimed some customers of the bank allege that RBS produced records of meetings that they claim never took place.

Other documents referred to indicate that the bank supplied erroneous customer records that could have flattered its own position in the more than £2 billion Financial Conduct Authority redress scheme.

Sources at some of the small and medium-sized businesses that were mis-sold the toxic derivatives products quoted in the report claim that the changes were made at their expense.

Many of the victims of the mis-selling scandal suffered disastrous consequences, including bankruptcy and the loss of companies built up over decades.

RBS said that the contentious documents “did not determine the findings or outcomes of the review”. The FCA has indicated that the redress process treated banks’ sales records with “scepticism”.

An RBS spokesman said: “We categorically deny falsifying customer records to influence the outcome of the review process. In each of these cases, the outcome was reached following a considered review of all relevant documentary evidence, not just the documents queried in these cases.

“While we work hard to ensure a high level of accuracy, minor and non-consequential discrepancies have occurred, on occasion, in historical records.”