Cybersecurity
HSBC Says 275,000 Delayed Payments to Be Made by Saturday
- Glitch wasn't related to hacking, person familiar says
- Many U.K. salaries paid on the final business day of month
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HSBC Holdings Plc said most of the 275,000 payments from U.K. business customers it failed to process Friday were completed by the end of the day after a software problem held up transactions before a long weekend.
The system breakdown resulted from an information-technology glitch and isn’t related to hacking or criminal activity, according to a person with knowledge of the matter, who asked not to be identified because an internal investigation by the bank is private. The failure delayed transactions on the final business day of the month, when many British salaries are paid.