banking outage2 articles
Charity Bank Pulls the Plug on Online Services After Third-Party Software Vulnerability Discovered
CAF Bank, which serves 14,000 charities and holds £1.45 billion in deposits, has suspended its online banking services since July 24 after discovering a security vulnerability in the connection between third-party software and its online portal, following reports of suspicious activity on some customer accounts. The outage has disrupted organisations' ability to run payroll and other transactions, though the bank says core banking services and customer funds remain safe. CEO Alison Taylor apologised for the disruption and said online access will not be restored until the issue is fully resolved, while the bank continues to handle urgent payments by phone.
Charity Bank Takes Down Online Services After Third-Party Software Flaw Exposed
CAF Bank, which serves 14,000 charities and holds £1.45 billion in deposits, has suspended its online banking services since July 24 after discovering a security vulnerability in how third-party software connects to its banking portal, following reports of suspicious activity on some customer accounts. The outage has caused significant disruption, with some charities unable to process payroll, though the bank insists core banking services and customer funds remain safe. CEO Alison Taylor has apologised for the disruption and says the bank is working with external experts to resolve the issue, while prioritising time-sensitive payments by phone.