§ MR. H. H. MARKS
I beg to ask the Postmaster-General whether the regulation permitting depositors in Post Office savings banks to withdraw sums not exceeding one pound on presentation of a deposit book showing that amount to their credit, at any post office where savings bank business is transacted, has led to the perpetration of frauds on the Post Office; and, if so, what steps he proposes to take to prevent the recurrence of such frauds.
§ MR. SYDNEY BUXTON
Occasionally frauds have occurred in connection with the regulation to which the hon. Member refers. The loss which fell upon the Post Office funds in consequence of such frauds between 3rd July, 1905 (the date on which the regulation came into force) and the 31st December was about two-thirds of a penny on every £100 withdrawn "on demand"—a trifling amount when weighed against the advantage which depositors have derived from the system. It would be inexpedient to make public the nature of the precautions which are taken against the recurrence of frauds, inasmuch as their object would thereby be to a large extent defeated.