Rt Hon. Andrew Tyrie MP, Chairman of the Treasury Committee, comments on the news that Tesco Bank's IT systems have been attacked.
Long list of failures of banking IT systems
Rt Hon. Andrew Tyrie MP, Chairman of the Treasury Committee, said:
"This is just the latest in a long list of failures and breaches of banking IT systems, exposing many thousands of customers to uncertainty and disruption.
At the beginning of the year, I wrote to the regulators urging them to take action to ensure that banks improve the resilience and security of their systems, and their IT expertise.
Millions of customers remain unnecessarily exposed to the risks of IT failures, including delays in paying bills and an inability to access their own money.
As for this case, I will be writing to Tesco Bank's Chief Executive to find out what went wrong, and what actions are being taken to reduce the likelihood of it happening again. Making sure that banks improve their IT systems, and their resilience to cybercrime, is also a responsibility of regulators. We will raise this issue with them again shortly. We can't carry on like this."
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