Big Brit banks report 64 payments outages in Q2 2018

Smaller banks Virgin Money, CYBG and Metro Bank reported no incidents, while the Co-operative Bank and Nationwide Building Society both disclosed two. New rules from the Financial Conduct Authority (FCA), which came into effect on Wednesday, require banks to disclose payment service outages caused by cyber attacks or other disruptions. Lloyds Banking Group had 19 of these incidents, with most hitting internet banking, while Barclays reported 18, Royal Bank of Scotland 16 and HSBC seven. LONDON (Reuters) – Britain’s five biggest banks had a total of 64 security or operational incidents that cut customers off from telephone, mobile or online banking in the second quarter of 2018, according to disclosures on the banks’ websites. The disclosures do not say what caused the outages, but some banks noted that in some cases the incidents only affected internal systems or limited numbers of customers.

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