A man who has never banked with HSBC was told to repay over $13,000

Jamie Cavanagh found himself saddled with debt and a battered credit score. Fraudsters allegedly stole his identity and went on a lavish spending spree using accounts opened in his name. He has never banked with HSBC but was told he must repay them £17,000.

HSBC said that only 38% of adults invested some of their cash. Stocks and shares are the most popular way to do it, with stocks and shares the most common way to invest. Three in five people in Britain don't have investments, according to the bank.