3Apr 2017

HBOS fraud ‘covered up for nine years’

Andy Hornby was group chief executive of HBOS until its takeover by Lloyds MARK SOMERVILLE

One of Britain’s largest frauds, which destroyed hundreds of small businesses that banked with Halifax Bank of Scotland (HBOS), was covered up for nine years, according to an internal report seen by The Sunday Times.

The estimated £1bn scam was “concealed” by several HBOS executives, according to a report by a senior employee at Lloyds, which merged with HBOS months later.

22Mar 2017

British banks handled vast sums of laundered Russian money

HSBC’s building in Canary Wharf, London. Photograph: Anthony Devlin/PA Archive/Press Association Image

Exclusive: Billions of dollars were moved out of Russia in ‘Global Laundromat’ operation, with anonymously owned UK companies playing major role theguardian.com

Britain’s high street banks processed nearly $740m from a vast money-laundering operation run by Russian criminals with links to the Russian government and the KGB, the Guardian can reveal.

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