Royal Bank of Scotland fined £56m over IT meltdown

Royal Bank of Scotland is to pay fines totalling £56m following an IT meltdown in 2012 which locked millions of customers out of their accounts.

Royal Bank of Scotland fined £56m over IT meltdown
Thu, 20 Nov, 2014 - 09:01

Royal Bank of Scotland is to pay fines totalling £56m following an IT meltdown in 2012 which locked millions of customers out of their accounts.

The group, which includes NatWest and Ulster Bank, has already paid more than £70m in redress to UK customers as a result of the crash, which it has blamed on “unacceptable weaknesses” in its systems.

Already a subscriber? Sign in

You have reached your article limit.

Unlimited access. Half the price.

Annual €120 €60

Best value

Monthly €10€5 / month

Benefit image

Introductory offer. Annual billed once for first year. Monthly (discount first 3 months) billed monthly, then €10/month. Ts&Cs apply.

More in this section

empty J1 USA visa for man US visa crackdown is an assault on students' rights
Sad boy standing alone in the hallway Derval McDonagh: We cannot say what happened to Grace will not happen again 
AI chat technology, Businessman use smartphone with virtual screen of AI chatbot communicate and answer questions. Artificial in Agentic opportunity for Irish business: The time to act is now
CourtsBusinessHeathrowPlace: UKPerson: Tracey McDermottOrganisation: Royal Bank of ScotlandOrganisation: NatWestOrganisation: Ulster BankOrganisation: Financial Conduct AuthorityOrganisation: RBSOrganisation: Bank of EnglandOrganisation: Prudential Regulation AuthorityOrganisation: FCA
<p>In the first eight months of the year, 116,099 new cars were registered, a 3.4% increase, of which 20,656 were electric cars representing a 37% year-on-year increase. File picture</p>

Electric car sales surge by 70% in Ireland, but Tesla's decline continues

READ NOW

The Business Hub

Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Latest

Business

Push Notifications

By clicking on sign up you will be the first to know about a selection of business content on this browser. Please note if you are unable to sign up via your mobile web browser, download and sign up for mobile push notifications via our FREE news app.

Sign Up
IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub

Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Fergus Finlay
Fergus Finlay

Analysis

Lunchtime News

Newsletter

Keep up with stories of the day with our lunchtime news wrap and important breaking news alerts.

Most Read

Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited