TSB fined £48 million over botched migration

Penny Horwood
clock • 2 min read
TSB has been fined £48.65m
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TSB has been fined £48.65m

City regulators have fined TSB £48.65m for “widespread and serious,” failings related to a disastrous IT upgrade in 2018 which left millions of banking customers locked out of their accounts for weeks, and problems with payments persisting for months.

The £48.65m fine was for levied for "operational risk management and governance failures," and concludes an investigation by the  Financial Conduct Authority (FCA) and Prudential Regulation Authori...

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Penny Horwood
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