Royal Bank of Scotland fined £56mln over computer glitch November 20, 2014 - 11:49 AMT PanARMENIAN.Net - Royal Bank of Scotland (RBS) has been fined £56mln ($87mln) by regulators after a 2012 software issue left millions of customers unable to access accounts. RBS, NatWest, and Ulster Bank customers were affected in June 2012 after problems with a software upgrade, BBC News reports. The Financial Conduct Authority fined RBS £42mln, and the Prudential Regulation Authority fined the bank £14mln. RBS chairman Sir Philip Hampton said the problems "revealed unacceptable weaknesses in our systems". In 2012, the bank set aside £125mln in compensation and costs because of the disruption. The fine comes on top of a £217mln FCA penalty for RBS last week over foreign exchange rate rigging.  Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Turkey extends military presence in Azerbaijan  The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops.Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skillsArmenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi ArabiaPashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |
