National Crime Agency
NCA concludes pre-investigative review of allegations of fraud by HBOS Impaired Assets Division, London and South-East Region
The National Crime Agency (NCA) has concluded its pre-investigative evidential review into allegations of fraud concerning the then HBOS Impaired Assets Division, London and South-East Region.
The review, announced on 30th April 2018, was carried out at the request of Thames Valley Police to consider allegations that were outside the scope of Operation Hornet; a Thames Valley Police investigation into allegations of fraud against former employees of this division of HBOS. Operation Hornet resulted in a number of convictions in 2017.
The central purpose of the review was to determine whether there was evidence to support these allegations that warranted a full criminal investigation.
The review did not identify any clear evidence of criminal offending, and concluded that there is very limited likelihood of achieving the required level of evidence to support a prosecution. As part of the review, the NCA consulted complainants who were referred by Thames Valley Police. The NCA has decided not to open a criminal investigation into this matter, or request that a law enforcement partner do so.
If new information were to come to light that materially affects this decision, we will ensure that it is reviewed.
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