Royal Bank of Scotland fined £56mln over computer glitchNovember 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 | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |