March 27 (Reuters) – Lloyds Banking Group exposed the personal data of up to 447,936 customers during an IT glitch earlier this month that allowed users to see other customers’ transactions, including account details and national insurance numbers, Britain’s Treasury Committee said on Friday.
The incident highlights the vulnerability of Britain’s digital banking infrastructure, such as apps and websites, as lenders slash physical branch networks to cut costs and shift customers online.
* The bank has paid 139,000 pounds in compensation to 3,625customers for distress and inconvenience, though no customershave suffered financial loss so far, according to a letter fromLloyds published by the committee. * Lloyds said a software defect during an overnight updatecaused the breach, which affected customers at Lloyds, Halifaxand Bank of Scotland, with 114,182 people clicking ontransactions that revealed other users’ personal information. * Britain’s cross-party Treasury Committee had requested further explanation from Lloyds earlier this month over thecause of the glitch that took place on March 12. * Lloyds must provide updates to the committee within onemonth and after six months.
(Reporting by Yamini Kalia in Bengaluru; Editing by Sonia Cheema)
finance.yahoo.com
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