Showing only posts tagged Financial sector. Show all posts.

Millions more in cash needed to fund UK’s open-banking watchdog

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Exclusive: £10m needed for regulator charged with developing tools to thwart financial crime and protect consumers Banks are under pressure to stump up millions of pounds in interim funding for the organisation that polices open banking, with regulators saying the new money is needed to prevent financial crime and …

Former TSB chief information officer fined £81,000 over IT meltdown in 2018

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Regulator says Carlos Abarca ‘failed to take reasonable steps’ to ensure outsourcing firm was ready to migrate accounts en masse UK regulators have imposed an £81,000 fine on a former TSB information officer over the bank’s IT meltdown in 2018 that left millions of customers locked out …