Complete breach database — systematic abuse, fraud, and mis-selling that destroyed thousands of businesses and lives (2003–2016).
GRG operated as a "profit centre" designed to squeeze struggling businesses for profit, not to save them. 12,000+ companies pushed into distress.
Businesses hit with "review fees" (£400/month), "risk fees" (£150,000/year), and "security fees" (£7,000 one-off).
Staff rewarded with bonuses based on fees extracted from distressed businesses. Internal memo described it as "dash for cash".
West Register (RBS property arm) bought customer assets cheaply after GRG forced businesses into distress.
GRG manager Stuart Holloway admitted taking £600,000 in bribes from struggling business customers. Convicted 2026.
RBS failed to disclose criminal investigations to Parliament; CEO Ross McEwan claimed ignorance. Misleading Parliament.
HBOS Reading branch Impaired Assets Division: six perpetrators jailed in 2017 for defrauding struggling business customers.
Victims forced to use Quayside Corporate Services, which charged exorbitant and made-up fees.
"Vile and unprofessional bullying tactics" used against vulnerable business owners.
Businesses had no choice: accept the swap or lose the loan. 87% unaware the adviser was a salesperson.
Exit costs often exceeding £95,000, trapping businesses. One constituent charged £6.1m on a £3m loan.
RBS destroyed telephone tapes that would have proved mis-selling.
Key test case on LIBOR misrepresentation and GRG conduct. Appeal granted as "test case" for similar claims.
Court of Appeal held banks owe no common law duty of care. Limited common law remedies; regulatory route preferred.
Commissioned by RBS; found no evidence of deliberate destruction. Widely criticised as lacking independence.
GRG mistreatment: FCA redress scheme (closed but still handling)
IRHP mis-selling: FCA review + FOS for individual cases
Stuart Holloway victims: NatWest compensation review (ongoing)
Start in Command CentreReading fraud: Foskett Panel — active compensation review (up to £3m)
IRHP mis-selling: FCA review + FOS
Lloyds compensation: £1.2bn set aside for victims
Start in Command CentreImportant: The FOS maximum award is £150,000. For losses exceeding this amount, victims may need to pursue court action or the Foskett Panel (HBOS).