Successful Removal of CIFAS Markers
KANGS has successfully obtained the removal of National Hunter and Cifas markers registered against our client, a successful and respected businessman. The client became aware of the registrations following the closure of various bank accounts.
The Team at KANGS, exercising its considerable experience, regularly assists clients obtain the removal of markers registered on both the CIFAS and National Hunter databases.
Nazaqat Maqsoom of KANGS explains the work conducted to achieve this highly satisfactory result.
The Circumstances
During the Covid-19 pandemic, our client’s company, which specialised in outdoor building and construction work, received a ‘Bounce Back Loan’ (‘the loan’) amounting to fifty thousand pounds through his bank, HSBC.
Repayments of the loan were scheduled to commence on a monthly basis from November 2021. In May 2021, five months before the first instalment was due, our client sold the company by way of a Share Purchase Agreement. The new director failed to make any of the scheduled loan repayments to HSBC.
HSBC applied to CIFAS and National Hunter for markers to be registered. Inexplicably, the application to CIFAS appears to have been made on the same date that our client’s company applied for the loan. Accordingly, as the loan had not even been made upon that date, it was clearly impossible for any repayment to have become due.
Requirements for the Issue of a CIFAS Marker
CIFAS and the applying financial institution must, prior to issuing a marker, ensure that criteria set out in the eight principles within the National Fraud Database Handbook are satisfied.
Principle Four, which covers lawfulness, mandates that cases filed to the National Fraud Database must be supported by evidence, meeting the ‘pillars’ of the Standard of Proof which include:
- That there are reasonable grounds to believe that a Fraud or Financial Crime has been committed or attempted; [and]
- That the evidence must be clear, relevant and rigorous.
Failings on the Part of HSBC and CIFAS
HSBC and CIFAS had clearly failed to satisfy the criteria set out above and had acted improperly.
Irrespective of the fact that the application to CIFAS was made the same date as the loan application, with the consequence that the following would not even have occurred at that time, these events supported our client’s innocence:
- our client had sold his company before the loan repayments fell due,
- the Share Purchase Agreement specifically passed the company’s liabilities arising under the loan to its new owners.
How Assisted Our Client
The Team at KANGS assisted our client by:
- meeting with him, discussing all of the circumstances, including ongoing litigation which he was conducting. Provide advice upon his position and the appropriate course of action to secure the removal of the markers, and submit a complaint to the Financial Ombudsman,
- preparing and serving appropriate detailed representations concerning the improper conduct complained of,
- collating and examining all supportive evidence,
- preparing and pursuing a complaint to the Financial Ombudsman,
- resolving our client’s outstanding civil proceedings.
As the result of determined and focused attention on the part of the Team at KANGS, the CIFAS and National Hunter markers were removed and all attendant issues were successfully resolved to the complete satisfaction of our client.
How Can We Help You?
The Team at KANGS is extremely experienced at assisting clients secure the removal of CIFAS and National Hunter markers.
If you find yourself subject to a CIFAS or National Hunter marker, you should obtain immediate legal representation. Please feel free to contact our team using the details below as they will be delighted to hear from you.
Tel: 0333 370 4333
Email: info@kangssolicitors.co.uk
We provide initial no obligation discussion at our three offices in London, Birmingham, and Manchester. Alternatively, discussions can be held through live conferencing or telephone.
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