Lloyds fined over £45m for not disclosing fraud at banking unit
HBOS was involved in huge fraud in the UK in the early 2000s and was rescued in a state-engineered takeover by Lloyds in 2009
21 June 2019 - 12:24
Bengaluru — Britain’s financial watchdog has fined Lloyds Banking Group £45.5m for failures at its HBOS Reading unit to disclose suspicions of fraud.
Halifax Bank of Scotland (HBOS) was involved in one of Britain's biggest ever banking frauds in the early 2000s, which saw some of its bankers enrich themselves at the expense of struggling business clients, some of whom succumbed to insolvency after being advised to borrow unsustainable amounts...
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