LONDON (Reuters) – Lloyds Banking Group (L:) has been criticized for mishandling a compensation scheme for victims of one of Britain’s biggest banking scandals in a report published on Tuesday.

The bank’s scheme had ‘serious shortcomings’, retired judge Ross Cranston said in a review into how Lloyds compensated victims.

The bank, which has paid more than 100 million pounds ($128.30 million) in compensation over the fraud, said it would offer all victims the option to have their cases independently reviewed.

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