Jessica Harper, former head of fraud and security for digital banking at Lloyds Banking Group, is to be charged with submitting false invoices totalling more than £2 million whilst working at the bank.
The false invoices totalling £2,463,750 do not relate to her personal expenses, a source said.
Harper will appear before magistrates next week accused of one count of fraud by abuse of position between 2008 and 2011, the CPS has said.
Andrew Penhale, of the CPS Central Fraud Group, said he had authorised Scotland Yard to charge her.
He said: "The charge relates to an allegation that between 1 September 2008 and 21 December 2011, Jessica Harper dishonestly and with the intention of making a gain for herself, abused her position as an employee of Lloyds Banking Group, in which she was expected to safeguard the financial interests of Lloyds Banking Group, by submitting false invoices to claim payments totalling £2,463,750.88, to which she was not entitled.
"This decision to prosecute was taken in accordance with the Code for Crown Prosecutors. We have determined that there is a realistic prospect of conviction and a prosecution is in the public interest."
She will appear before Westminster Magistrates' Court on Thursday.
Mr Penhale said: "Jessica Harper now stands charged with a criminal offence and has the right to a fair trial.
"It is extremely important that nothing should be reported which could prejudice this trial."