The National Crime Agency is re-examining fraud allegations at HBOS that have already led to the jailing of six people.
The NCA has announced that it is acting on a request from Thames Valley Police, who conducted the original investigation into a fraud that pushed business owners to hire a costly turnaround consultancy. NCA investigators will look at further allegations of fraud as well as claims of money laundering and asset stripping.
HBOS is part of the Lloyds Group. A spokesman for Lloyds said the bank welcomed the fresh review and would cooperate fully.
Lloyds has created a £100M compensation scheme for those who suffered losses in the fraud. Some had complained that the bank reacted too slowly to their complaints.
While investigations continue into what was a major fraud carried out by an HBOS manager and his associates, the £100M Lloyds has had to put aside will serve as a costly reminder of the importance - and value – of proper workplace fraud prevention measures.
Read our article: HOW TO PREVENT WORKPLACE FRAUD