TSB, the U.K. bank that continues to face an ongoing scandal after an IT project went awry and blocked customers from their accounts, is now facing even more criticism as customers report funds stolen from their accounts.
Reports in the BBC said TSB’s fraud alert system isn’t working for some online banking customers. One customer told BBC Radio 4’s “You and Yours” that TSB said it was unable to warn her about fraudulent activity because fraudsters changed the customer’s contact details. The FI also acknowledged that it failed to identify some fraudulent withdrawals from her account.
“We have in place sophisticated systems which are designed to spot fraudulent activity; however, these transactions were not flagged by the system,” TSB wrote the customer. “We are unable to explain why, but please be assured that we continually update and improve our…
