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56m over IT system meltdown

An IT meltdown landed Royal Bank of Scotland with more big fines yesterday after millions of its customers were left unable to Billig Generisk Cialis access key banking services.

Penalties totalling 56 million from the UK's two financial regulators are on top of 70m in redress paid to customers after the systems crash in 2012, which affected RBS and its divisions NatWest and Ulster Bank.

RBS admitted to "unacceptable weaknesses" in its computer systems as around 6.5 million customers equivalent to 10 per cent of the UK population suffered disruption lasting for several "Buy Cheap Jintropin Online" weeks in some cases.

They were Cialis 10 Mg Goedkoop unable to use online banking facilities or obtain accurate account balances from ATMs. Buy Cialis Switzerland Mortgage payments were delayed and customers left without cash in foreign countries. Among other problems, the banks applied incorrect credit and debit interest to customers' accounts and produced inaccurate bank statements. The issues in June 2012 stemmed from a botched upgrade to software that processed updates to customers' accounts.

When it noticed problems with the upgrade, the bank's central IT function decided to uninstall it without first testing the consequences of that action.

Tracey McDermott, the FCA's director of enforcement and financial crime, said there were "failures at many levels".

She added: "Modern banking depends on effective, reliable and resilient IT systems. The banks' failures meant millions of customers were unable to carry out the banking transactions which keep businesses and people's everyday lives moving."

The "Anabolika Definition" meltdown has resulted in RBS's Ulster Bank receiving a record fine of almost 2.75m from Winstrol W Tabletkach Cena the Central Bank of Ireland.

RBS group chief administrative officer Simon McNamara last night said he would prefer not to have to pay the fine but it would not "break the bank". RBS was working to ensure the problems were not repeated, he said.

Mr McNamara said: "We've invested a significant amount making sure we are in a much, much better position Testosterone Enanthate Not Working than we were back in 2012."

SEE ALSO

MSPs slate RBS over plans to close 154 branches

Banks fined 2bn by watchdogs over forex rigging

Taxpayers to escape the cost of bailing out banks

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