UK Bank TSB Admits 1,300 Accounts Hit By Fraud Amid IT Meltdown (bbc.com)

An anonymous reader shares a BBC report: Life savings have been stolen from TSB accounts by fraudsters "exploiting" the bank's IT problems, with 1,300 people losing money. On occasions, people were waiting on the phone for up to nine hours to report cases, the bank's boss Paul Pester has told MPs. He said that 70 times the normal level of fraud attacks were seen last month. The introduction of a new IT system in April left customers struggling to make transactions and see their balances. The bank said it would compensate customers in full for any fraud they suffered. The evidence came after the financial regulator confirmed that it was investigating TSB and criticised Mr Pester for an "optimistic view" of services after the meltdown.

Comments

Re:It's just getting worse isn't it?

[Anonymous Coward]

All financial instruments will be stored in immutable blockchains, anonymized and open to public scrutiny.

You guys still don't see how this is bigger than the Internet? Bitcoin will be synonymous with money after the next big meltdown, but it won't be the only blockchain by a long shot.