Advertisement

News

Ulster Bank fined €3.5m

Ulster Bank has been hit with a three and a half million euro fine over its 20-12 IT meltdown. The f...
TodayFM
TodayFM

6:17 AM - 12 Nov 2014



Ulster Bank fined €3.5m

News

Ulster Bank fined €3.5m

TodayFM
TodayFM

6:17 AM - 12 Nov 2014



Ulster Bank has been hit with a three and a half million euro fine over its 20-12 IT meltdown.

The fine is the largest paid over to the Central Bank.

More than 600 thousand Ulster Bank customers were unable to access their accounts and payments weren't processed over a 28 day period in 2012.

The Central Bank said the IT failure caused significant and unacceptable inconvenience to customers.

Ulster Bank said in a statement that it accepts the findings and that it has invested in technology to prevent future glitches.

The bank has paid out almost 60 million euro in compensation to customers.



Read more about

News

You might like