"We are concerned that at the time of the committee hearing, the CEO may have been in possession of an initial set of slides by IBM which provided initial views on the incident, and could, therefore, have shared more detail on this with the committee," he wrote. "īailey suggested that CEO Pester, TSB chairman Richard Meddings and a representative from TSB's parent company, Spanish banking group Sabadell, had more information from the IBM team drafted in to help mend the system than they shared with the committee when giving evidence on 2 May. He added: "We do not normally make this information public, but given the level of public interest, I want to be clear that we will be conducting. "The FCA has been dissatisfied with TSB's communications with its customers and we have had concerns that TSB was not being open and transparent about the issues experienced," he wrote. "The current communications were perceived as poor, and could reduce trust in TSB and in the banking sector as a whole." TSB has set up a dedicated fraud line to deal with these issues, claiming that wait times were only a few minutes, but Treasury committee chair Nicky Morgan said she understood that customers had being kept waiting for half an hour before hanging up. The bank is refunding those customers, Pester said, and admitted that fraud levels were 70 times higher than normal last month, with the bank sending out 10,600 alerts about potential fraud to customers. TSB bosses admitted yesterday that 2,200 customers were subject to fraud amid the bank's IT fiasco.Īppearing in front of the Treasury Select Committee in the House of Commons, CEO Paul Pester said 2,200 had experienced fraudulent attempts to access their accounts and 1,300 had actually had money stolen from their accounts. : TSB admits fraud affected thousands of customers during IT outage
This tone has been set from the top by Paul Pester and whether intentionally or not, he has not been straight with the Committee and TSB customers," said Morgan commenting on her correspondence with Pester and TSB. "Since the IT problems at TSB began, its public communications have often been complacent and misleading.
TSB, who are a subsidiary of the Spanish Sabadell Group, left many of its customers locked out of online services for a week at the end of April because of a botched bodged IT migration when it separated from Lloyds Banking Group's systems. : IBM suggests TSB's meltdown was due to a lack of testingĪn IBM report into the IT meltdown at TSB has suggested the bank did not carry out rigorous enough testing and went further than the previously reported middleware issues. I would also like to say thank you to our Partners for their enormous efforts." "It has been a difficult time for customers and I am grateful for their patience. "It was not acceptable, and was not the level of service that we pride ourselves on, nor was it what our customers have come to expect from TSB.
"I know how frustrated many customers have been by what's happened," added Pester. Despite announcing the problem had been sorted on a number of occasions and even bringing in IBM to help with the migration problems, many customers were still having issues well into the summer.
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