There was a massive spike in attempts by fraudsters to steal from TSB customers when the bank’s IT systems failed in 2018
Opportunistic fraudsters stepped up their attempts to trick TSB customers into divulging account details during the bank’s botched IT migration, which started in April 2018.
According to a report by law firm Slaughter and May, which investigated the disaster, these fraud attempts were 70 times higher than normal levels at one point during the crash.
The problems began during the migration of five million customers from Lloyds Banking Group systems, where they were hosted, to a new core banking platform, known as Proteo4UK.
Many customers were locked out of their accounts, some saw money disappearing from accounts, and others were even able to see other people’s accounts.
By Karl Flinders
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