As TSB’s huge data breach disaster enters its second week, the Spanish-owned bank is facing a potential multi-million pound compensation bill.
Towards the end of April, TSB notified their customers they would have limited access to online services between Friday 20th April and Sunday 22nd April as they carried out planned maintenance and service updates.
Services were supposed to be up and running again by 6pm Sunday, but over a week later, many customers are still facing problems including issues accessing their accounts and accessing their money.
On top of customer dissatisfaction, TSB are now facing a huge fine as not only have they caused uproar with their customers, they have actually been at the centre of a large-scale data breach.
A data breach is a situation in which the confidentially, integrity or availability of data is compromised. And TSB hit all three of these. Many customers were able to temporarily access other users accounts, which saw a breach in confidentiality. Many accounts displayed unexplained transactions, incorrect balances and cancelled direct debits, which saw a breach in integrity. And finally, half of TSB’s 5 million customers were unable to access their accounts, breaching availability.
The ICO (Information Commissioner’s Office) is aware of the issue at hand, and there are ongoing discussions regarding how to rectify this national data violation.
In the modern technological world, data breaches do happen, but they are preventable with the correct security systems in place. Here at SCS Technology Solutions, we are a team of friendly, reliable IT experts with over 20 years of experience in the industry. We have built our organisation on outstanding service and would be more than happy to conduct an IT review where we review your assets, infrastructure, systems, practices and business strategy, prior to starting any IT projects.
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