Comments
Britain’s Lloyds Banking Group has frozen 8,000 customer accounts under a wider crackdown on money-laundering.
Lloyds froze the accounts after failing to obtain details regarding customer identities despite multiple requests.
“In January 2016, we began to contact certain expatriate banking customers to ensure we were provided with up-to-date information for our records, where customer information was missing,” a spokesman said.
“This was required to meet international regulatory standards... Unfortunately, where a customer has not provided us with this necessary information, we have had to freeze their account until we get the information.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.