Lloyds Bank To Pay £6.7M To HBOS Fraud Victims

Law360, London (December 20, 2019, 5:07 PM GMT) -- Lloyds Banking Group said on Friday it will pay £35,000 ($45,600) to each of almost 200 customers affected by a fraud committed through a branch of its subsidiary HBOS, after an official review criticized the way it had previously paid compensation to victims.

The payments to the 191 customers, totaling £6.7 million, are “ex-gratia” the bank said, meaning they are done out of a moral obligation rather than a legal requirement. The lender said it was "very sorry" after hearing of concerns from the customers.

An independent review into Lloyds' arrangements published on Dec. 10 found “serious shortcomings” in the way...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!