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UK bank to pay Rs 795 crore as compensation to fraud victims

UK bank to pay Rs 795 crore as compensation to fraud victims

Saturday, April 8, 2017, 11:55 PM

UK banking major Lloyds has announced that it is setting aside £100 million (Rs 795 crore), to compensate customers who lost money in a fraud scandal. The lender said it will compensate for "economic losses, distress and inconvenience" to assist victims. This comes after some staff at HBOS, owned by Lloyds, were jailed for carrying out a loans scam.
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