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.
