Ulster Bank Fraud Allegations & Evidence

"Effectively Theft"— James Hurley & Ian Fraser, The Times
Key Reports & Evidence
Bank Confidential Report — Biggest Fraud EverLink
Summary of Bank Confidential ReportComing Soon
Bank Confidential Report EndorsersComing Soon
A Special Ireland Matters — Transparency Task Force about Bank Confidential ReportComing Soon
Interest Rate Swaps & Fixed Rate Loans: Hidden Credit Lines — Mis-Selling or Largest Financial Fraud?Coming Soon
Financial Times Adviser — Report Demands £50 Billion RedressLink
Communication from Bank Confidential to Dáil Finance Committee Offering to TestifyComing Soon
Bank Confidential — Example Shared with Dáil Finance CommitteeComing Soon
How the Fraud Worked
RBS Seizing Properties for a Subsidiary to Buy at Knock-Down Prices (video report embedded)Link
How the Fraudulently Sold Derivatives Impacted Bank CustomersComing Soon
How Irish SMEs Were Victimised by the Banks & RegulatorWatch
Ulster Bank — Mason Hayes Report CommentsComing Soon
Fixed Rate Loan — Credit Risk TransferComing Soon
925 Million Outflow in Deposits — Was There a Quid Pro Quo?Link
Contributors to the Bailout — Was There a Private Quid Pro Quo in Return?Link
60 Irish Businesses Want Compensation from Ulster BankLink
NatWest Fixed Rate Loan Scheme — "Effectively Theft" (The Sunday Times)Link
Hidden Downgrade: When Banks Reclassify Your Home to Seize It CheaplyComing Soon
How RBS Trained Employees to Forge SignaturesLink
Ulster Bank / RBS — Media Articles Timeline
Date TBCBailed out RBS systematically forged customer signatures— Nexus Newsfeed
January 2013Campaign against mis-selling of swaps by Irish banks is getting closer— Coming Soon
October 2013New twist in interest rate swap scandal— Channel 4 News
May 2014Ulster Bank: "We never preyed on struggling businesses"— Belfast Telegraph
October 2015Ulster Bank shuffles management before new CEO named— Irish Independent
November 2015RBS used inaccurate documents for payments— The Times
November 2015RBS denies it manipulated swaps compensation review— Reuters
January 2017Led by Jackie Lavin — 60 Irish companies want compensation from Ulster Bank— The Journal.ie
February 2017RBS accused of fraud and forgery by customers and ex-employee— BBC
February 2017"They were tampering with files" — The story of a whistleblower engineered out of RBS— Realmedia.press
February 2018MPs publish full unredacted report into RBS small business scandal— The Guardian
February 2018How RBS trained employees to forge signatures— Acts Online
February 2018RBS taught us to forge signatures— The Times
February 2018RBS admits forging an elderly woman's signature— The Daily Mail
May 2018Ulster Bank to refund 17 SMEs over GRG charges
July 2018FCA defends decision not to act over RBS small firms scandal ("not within its remit")— Sky News
September 2020RBS altered customers' files ahead of independent review into swaps mis-selling— The Independent
August 2023NatWest fixed-rate loan scheme for companies — "Effectively Theft"— The Times
August 2023Fraud claim level against NatWest over Northern Ireland loans— Transparency Task Force / The Times
August 2023Pub provided key to unlocking the Ulster Bank loan scandal— The Times
November 2023Report demands £50 billion redress for businesses over credit line— FT Adviser
November 2025Mis-Selling or The Largest Financial Fraud in British Banking— Bank Confidential
Videos
(also on Videos page)
Ulster Bank Fraud — Background (Transparency Task Force)Watch
Fraud Summary — Nicholas Wilson (Mr Ethical)Watch
Reportercast — Ulster Bank Video with Steve MiddletonWatch
The Role of Key Institutions

What was — and is — the role of each of the following in facilitating or ignoring these frauds?

  • The Central Bank of Ireland
  • Irish Law Firms, Individual Solicitors and Barristers
  • The Judiciary
  • Politicians
  • The Permanent Civil Service
  • Journalists
Sample FraudsLink
"A shocking crime was committed on the unscrupulous initiative of a few individuals, with the blessing of more, and amid the passive acquiescence of all." — Tacitus