RBS's Ulster Bank whacked with enormous IT cock-up fine

About £4.60 per customer affected

A few days bank charges will pay that.

Teflonitis

He said: "While the Central Bank recognises that IT outsourcing is a feature of modern banking business, outsourcing is no defence for regulatory failings."

This. And some.

One of the inherent problems of outsourcing is not necessarily the fact that is done to save money, it is the derogation of responsibility that accompanies it. If your answer to one of the following questions...

'Why is our website not fit for purpose?'

'Why is our shiny new public sector IT system not working?'

...is "Well, not really my fault, our suppliers have let us down", then whether you're a banking, corporate or NHS manager, a council planner or a senior civil servant, the only sensible retort i.e. the only one that will get rid of those Teflon shoulder pads, is...

"This is YOUR responsibility. Whether it's been outsourced or not. Therefore YOU haven't done YOUR job. There's the door. And don't forget to leave your access card and pension on the way out..."

Outsourced !!!

IT services were outsourced to India.

Seems fairly small

Is RBS as a whole going to get a bigger fine?

Why are these countries fining the banks.

As I see it: Bank makes a cock up :- customer suffers.

Later along comes some government lackey fining the bank multiple millions of pounds/dollars, which I presume goes to the treasury of the relevant country.

Who pays? The same customer who suffered in the first place thereby compounding the suffering.

Who gains ? Some nonentity who had absolutely nothing to do with the original problem.

If these fines went to the suffering customers etc, then I could see some justification, otherwise: No.

As someone else said, if there has been a law breach then the directors/ managers etc should be the ones to carry the can - do time etc.

Probably would not have had the recession due to toxic loans etc, if the real threat of hard time had been there.

Hmm, now the inability I've had to change address with the morons in the RoI bank makes sense.

3 letters sent with a copy of my passport photo page, which they've either not received or done nothing, and phone calls are just with an attitude of 'send a letter' with an outright refusal to accept anything but the sacred letter as a form of communication.

Then when I complain that they have sent my account details to the address I no longer live it, they tell me it is my fault because I, wait for it, didn't send them a letter, and that I then didn't ring them often enough (why when the refuse to do anything over the phone?) to find out they had done nothing.

Oh yes, and they had to do this, because of their 'data security' arrangements wouldn't let them do anything else!

Where do they find these people?!

No wonder they have problems, no one with a brain in charge.