Lloyds Banking Group, owner of HBOS, is going to review the cases of customers affected by a fraud involving two ex-employees, who were jailed last week.

Six people, including the former HBOS bankers, were found guilty of a scam involving fraudulent loans. The bank has been under pressure to pay compensation after it was accused of reacting too slowly to complaints from victims of the scheme. The fraud took place before Lloyds Banking Group took ownership of HBOS. "Customer cases will be considered afresh in light of all relevant evidence including new evidence that emerged during the trial," said a Lloyds statement. "Since the investigation began in 2010, it was important that the group did not do or say anything that could subsequently prejudice the trial. "The group deeply regrets that the criminal actions have caused such distress for a number of HBOS business customers." The statement explained that Lloyds would appoint an independent third party as part of the review and would agree the individual outcomes with it. It added: "Lloyds Banking Group will contact all those customers they have identified as potentially affected by the criminal activities and provide redress if appropriate. "Whilst this should result in all these customers being contacted proactively, any customer who believes they may have been affected can also raise concerns direct with LBG."....Read more here