back to article 1,300 customers of Brit bank TSB defrauded due to botched IT migration

TSB's boss Paul Pester admitted that 1,300 people have been defrauded as a result of the bank's botched IT upgrade in April, in a second hearing in front of MPs. The Treasury Select Committee heard how some customers had tens of thousands of pounds drained from their accounts, while others had to wait up to nine hours on the …

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Another false claim...

... prepared to bet my life that there's quite a few people who feel more for those customers than he does. Quite a few of us here, for starters.

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Re: Another false claim...

came here to post the same. So true

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Re: Another false claim...

"...Another false claim...

... prepared to bet my life that there's quite a few people who feel more for those customers than he does. Quite a few of us here, for starters..."

Indeed - he hasn't had to sit an watch his money being stolen from his account whilst being left on hold to the fraud team like this poor guy: https://www.bbc.com/news/business-44243768

Perhaps if he were made to personally compensate them, things would be significantly different. As well as then he really would share/feel the pain.

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Re: Another false claim...

Oh he feels for them all right. It is the feeling of a temporary single percentage digit decrease in his bonus. Only temporary of course.

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Anonymous Coward

Re: Another false claim...

but it hit him right in the feels, I bet he's having trouble sleeping at night in his rather large house, he also might have had to cancel some yachting, that's gotta hurt.

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Re: Another false claim...

Ha ha ha.... no. He's had it, career-wise. If he's employed in any sort of executive decision-making capacity at a regulated FI this time next year I'll eat my hat.

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Re: Another false claim...

He didn't specify *what* he feels for customers, just assuring us that he totally does have feelings for them.Much the same way foxes have strong feelings about chickens :)

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Anonymous Coward

Re: Another false claim...

As someone who has been overseas for the last 3 months, I have come back to see my account emptied - and more money siphioned from a linked account., Work meant that my net access was extremely limited. You might imagine that I am pissed off - and TSB are not being exactly helpful - as are my local police force!

And this is a couple of weeks of penury in.......

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Re: Another false claim...

"He's had it, career-wise. "

I doubt this is true. Dido Harding is currently employed.

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Coat

Re: Another false claim...

@Tom Paine

I would buy an edible hat if I were you, his yachting/golfer mates will soon find him some other highly paid job ideal for an ignorant and lazy of his kind.

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Re: Another false claim...

"I would buy an edible hat if I were you, his yachting/golfer mates will soon find him some other highly paid job ideal for an ignorant and lazy of his kind."

Note the OP said in an FI regulated business. That may well be the case if the regulators so decide. But it wouldn't stop him popping up in another capacity. Perhaps a career in politics beckons.

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Re: Another false claim...

Perhaps a career in politics beckons.

Why not, he has more than proved he is grade-A politician material

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Re: Another false claim...

"While our systems are safe and secure unfortunately fraudsters are increasingly sophisticated"

what an incredible response

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Re: Another false claim...

just assuring us that he totally does have feelings for them

By now, probably blind and unremitting hatred[1]. After all, how dare they spoil his migration party with all their pettifrogging complaints? So what if they can't access their TSB accounts - surely no-one with any wealth uses TSB!

Little people - pah. Who cares?

[1] Much like is engendered by having to be on a public-facing Helldesk. You start of genuinely wanting to help people but it doesn't take long before the despair, loathing and outright hatred starts,, Not that he's ever been exposed to Real People(TM).

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Re: Another false claim...

he has more than proved he is grade-A politician material

What do you mean? He's lied, ignored reality, made stuff up - surely no politician would do..

Ah.

OK.

As you were..

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Re: Another false claim...

Politics would mean a pay cut, so I suggest he's going to be appointed as a university vice chancellor.

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Anonymous Coward

Re: Another false claim...

If he's employed in any sort of executive decision-making capacity at a regulated FI this time next year I'll eat my hat.

Pfft - get your sauce warmed up.

He may not be in a regulated role, but there's nothing to stop him being in the machine somewhere.

My old work got hauled over the coals by the FSA (pre-FCA), and the directors all buggered off to start a new company. Only one of them isn't authorised, and he's employed as a "consultant".

AC because it nearly ended up in court, and I'm best not to dredge too much...

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Re: Another false claim...

"Oh he feels for them all right. It is the feeling of a temporary single percentage digit decrease in his bonus. Only temporary of course."

I do hope the notoriously short attention span of the media can make an attempt to remember this story when bonus payment time comes around. It should be interesting to see how his bonus is actually affected.

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Re: Another false claim...

If he's employed in any sort of executive decision-making capacity at a regulated FI this time next year I'll eat my hat.

I have put 6th of July 2019 in my calendar and I have set-up an advanced order of a bucket of ketchup to facilitate the hat consumption for you. We will all get some popcorn and get together to watch. Can you arrange some live streaming please?

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Re: Another false claim...

"... prepared to bet my life that there's quite a few people who feel more for those customers than he does."

Well, yes, obviously and I don't suppose your life insurance provider is too bothered by your rash bet. A more interesting question, however, is whether anyone out there actually feels less for these customers than he does. That is, perhaps he is not merely spouting implausible nonsense but is in fact exactly 100% wrong.

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Re: Another false claim...

He's had it, career-wise.

Nah, these guys just eventually cash out (even if forced out) and move on. Yeah, he may be a yacht or sports car behind his peers but such is the way it is. I do agree with other commentards that CEO's and boards should suffer something. Maybe hanging is too good for them?

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Re: Another false claim...

He didn't specify *what* he feels for customers, just assuring us that he totally does have feelings for them.

Probably the pain of not being able to be on the golf course without being bothered by phone calls, etc. Life is tough sometimes.

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Re: Another false claim...

what an incredible typical response

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Mushroom

Re: Another false claim...

It isnt even as if their chaotic tech infrastructure issues were new; whilst trying to open an account with them a couple of years ago, what should have been a simple hours task turned into a 3 month trial, where they lost paperwork, destroyed paperwork, sent paperwork to the wrong address (their OWN address, they got THEIR OWN ADDRESS WRONG!!!)

If it hadnt been for the fact they were the only bank willing to open an account for my wife at the time (foreign national), we would have walked after the first lost paperwork incident, but after the third lot went missing, we gave up

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She cannae take it, captain

However, the FCA's Bailey told MPs initial problems identified by IBM go beyond the middleware

So much for Pester's claim that the engine was fine.

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Re: She cannae take it, captain

Indeed, they've failed to honour two standing order's of mine, on both occasions the account had more than sufficient funds to cover them.

Let me be clear, they weren't returned due to insufficient funds either, they just weren't processed at all. If that doesn't raise some eyebrows that there is something very wrong with their systems I don't know what will.

Naturally I've been unable to get through to anyone to actually find out why and have decided enough's enough.

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Truly Shambolic Bank

I hate to say it, but the word isn't Shambolic. Starts with S-H though.

And it has IT in it.

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Re: Truly Shambolic Bank

And it has IT in it.

Which is more than TSB seems to have. Didn't they used to be known as, "The Bank That Likes To Say Yes"?

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Re: Truly Shambolic Bank

And it has IT in it.

Which is more than TSB seems to have. Didn't they used to be known as, "The Bank That Likes To Say Yes"?

Indeed they did, now its more like The Bank That Likes To Say, "Shit Geoffrey, did you even test this crap?There isn't a single part of this that works properly for fucks sake! Call IBM, they'll know what to do"

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@macjules Re: Didn't they used to be known as, "The Bank That Likes To Say Yes"?

Now let us be fair, they did indeed say yes.....to a large number of phishers, charlatans and fraudsters!

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Re: Truly Shambolic Bank

"Call IBM, they'll know what to do"

And that itself is a horrifying thought. IBM Global Buggerups have been associated with failure since probably the dawn of time, and the idea that they could improve the situation at Pester's toy bank is horrifying.

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Re: Truly Shambolic Bank

Didn't they used to be known as, "The Bank That Likes To Say Yes"?

Under the Lloyds' ownership I found them to be the bank, or at least branch, that says "don't care".

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Re: Truly Shambolic Bank

Don’t you mean ‘Geofredo’?

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LDS
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"CEO said city law firm Slaughter and May is conducting an independent review"

Looks the right firm, given what's happened.

Anyway it looks banks should top paying too much people who just try to come up with more complex financial "instruments" to create fake money to fatten bonuses, and instead start to hire competent IT people - all of their business is made of bits and bytes, today.

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Anonymous Coward

Re: "CEO said city law firm Slaughter and May is conducting an independent review"

This isn't just banks; it's right across the industry and that includes IT companies themselves. Look at IBM, HP et al. Those at the top consider IT an unwanted expense, just as they consider employees, infrastructure, customers or anything else that isn't lining their pockets an unwanted expense.

They know they can't get rid of it, so they do what they can to strip it to the bone. The tragedy is those who caused this, i.e. those who created the environment, will get away with it, those who should be holding them to account are in on it through old boys networks and nothing, nothing will change.

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Re: "CEO said city law firm Slaughter and May is conducting an independent review"

"They know they can't get rid of it, so they do what they can to strip it to the bone."

I wonder if we may be reaching a turning point. When everybody's reached the bottom the next logical step is a race to the top.

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Re: "CEO said city law firm Slaughter and May is conducting an independent review"

The next step is to kill off your competitors and have a monopoly on mediocrity.

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Re: "CEO said city law firm Slaughter and May is conducting an independent review"

"monopoly on mediocrity" Isn't that the mantra of the Freemasons?

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Re: "CEO said city law firm Slaughter and May is conducting an independent review"

"I wonder if we may be reaching a turning point. When everybody's reached the bottom the next logical step is a race to the top."

Nah, it's bungs and brown envelopes all the way down.

(The turtles need something to wipe their arses on)

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Anonymous Coward

'There is no one who feels more for TSB customers than me' - CEO

The people who make those kinds of statements are uncaring sociopaths. Instead take that statement and invert it, stamp on it, put it in the liquidizer - whatever. Then take it out and look at it.... Whatever is left is what CEO's really think. Christ if its tiring for readers to read this BS-PR, Jeez I pity poor journos. Or maybe they've already been replaced by AI / Bots? I can see Murdoch wanting in on that! Not the Reg of course, its run by rebels in our wonderful Blakes7-without-the-spacecraft universe / reality of sorts.

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Thumb Up

Re: 'There is no one who feels more for TSB customers than me' - CEO

Baggsie me being Vila! Triple adrenalin and somas all round!

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Anonymous Coward

While TSB IT systems were crashing like a Train-Wreck

I'm pretty sure TSB's CEO was off taking a selfie at the time, just like that schmuck in Italy as the injured woman lay on the tracks. No surprise there's research showing 'The-Rich-Lack-Empathy'!

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Anonymous Coward

Loss of customers

“Some 12,500 customers have switched away...”

Part of the reason they pushed ahead with the project I reckon. This clusterfuck was probably one of the worse case scenarios yet they still only lost less than .25% of customers.

Banks increasingly rely on customer complacency - and get away with it seemingly :-/

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Re: Loss of customers

"they still only lost less than .25% of customers."

The other 99.75% are still trying to get enough access to switch.

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Anonymous Coward

"Some 12,500 customers have switched away from TSB since the start of its IT problems."

I didn't formally "switch" my account, but opened another (Nationwide) and manually moved all direct debits, salary, card payments over. I'll leave ~£100 in the TSB account as a backup.

There are probably lots of people in this situation - it would be interesting to see how many shifted most of their money/activity but are still customers.

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FAIL

Reminds of the old saying.

"A fool and his money are easily parted."

It seems "A fool who stays with the TSB is easily parted from his money."

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With this and the Visa shambles last week, is a cashless society really the best idea?

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With this and the Visa shambles last week, is a cashless society really the best idea?

I have to agree - it is tempting to go 100% cashless, but then you'd stuck up the proverbial creek sans paddle should Mr Murphy decide to poke his grubby fingers in where they don't belong.

Cash still is king. Plus it feel nice to fan some large notes and pretend you're the richest in the world :)

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"it is tempting to go 100% cashless"

It seems that several 1000 TSB customers have beta tested that for you and found the experience less than satisfactory.

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