Cybersecurity
Lloyds, Barclays Reveal Security Lapses, Disruptions in Payments
- Regulators direct banks to disclose data breaches and outages
- Action signals push to deepen reporting of hacking incidents
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Lloyds Banking Group Plc, Barclays Plc and other U.K. lenders disclosed major security and operational incidents that cut off customers’ access to payment services, as regulators force lenders to publicize disruptions from cyber-attacks and other causes.
There were 19 such incidents at Lloyds, 18 at Barclays and 16 at Royal Bank of Scotland Group Plc that prevented customers from using telephone, mobile and Internet banking in the second quarter of 2018. Tesco Bank, which was targeted by cyber-criminals in 2016, reported six incidents in the period. The reports published on the banks’ websites don’t explain what caused the outages.