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Computer Glitch Costs Ulster B...

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Computer Glitch Costs Ulster Bank

98FM
98FM

08:11 12 Nov 2014


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Ulster Bank has been fined a record 3 point 5 million euro by the Central Bank over its massive systems failure in 2012.

The Central Bank says the bank failed to have adequate control in place to deal with tech problems.

Six hundred thousand customers were unable to access their accounts and payments weren't processed over a four week period in 2012.

Business Editor Ian Guider says the fine could have been even worse if Ulster Bank hadn't admitted its mistakes.


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