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Lloyds criticised for mishandling compensation for victims of major fraud

Reuters - UK Focus
Updated

LONDON, Dec 10 (Reuters) - Lloyds Banking Group has been criticised for mishandling a compensation scheme for victims of one of Britain's biggest banking scandals in a report published on Tuesday.

The bank's scheme had 'serious shortcomings', retired judge Ross Cranston said in a review into how Lloyds compensated victims.

The bank, which has paid more than 100 million pounds ($128.30 million) in compensation over the fraud, said it would offer all victims the option to have their cases independently reviewed.

($1 = 0.7794 pounds) (Reporting By Iain Withers and Lawrence White, editing by Huw Jones)