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Millions Of Pounds 'go Missing' After Technical Glitch Makes 600,000 Rbs Payments 'vanish' Overnight

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http://www.dailymail.co.uk/news/article-3127782/Millions-pounds-missing-technical-glitch-means-600-000-RBS-customers-payments-disappeared-overnight.html

Millions of pounds have gone missing after a technical glitch meant 600,000 payments to and from RBS customers' accounts disappeared overnight.

Hundreds of thousands of people have not been paid and scores of direct debits were not delivered as a result of the error which affected customers of NatWest, Coutts, Ulster Bank and RBS.

Furious customers today told of being put on hold for more than an hour when trying to resolve the issue after checking accounts to discover they had not been paid.

RBS have revealed it could take until Saturday for payments to reappear with the bank refusing to reveal whether everyone affected would be given cash to tide them over until then.

Still a far cry from all the billions that it previously made vanish.

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I can't understand why anyone still banks with the NatWest / RBS fustercluck after all the IT meltdowns they've had.

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I can't understand why anyone still banks with the NatWest / RBS fustercluck after all the IT meltdowns they've had.

Apparently people are more likely to divorce than change their bank. (A story that's been going round for years.)

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The banks are a new class of business.

Tehcnically incompetent, morallybankrupt (as well as technically), pandered to and supported by the govt/taxpayer and paid in many cases 100's times their actual worth for the scams that they call their business.

Would not be possible without a corrupt government and central bank in tow though and that is the real problem.

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The banks are a new class of business.

Tehcnically incompetent, morallybankrupt (as well as technically), pandered to and supported by the govt/taxpayer and paid in many cases 100's times their actual worth for the scams that they call their business.

Would not be possible without a corrupt government and central bank in tow though and that is the real problem.

Any other business would have been closed by now.....the British Leyland equivalent

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I`m waiting for the day when the internet is messed up and whole swathes of internet traffic is stopped or wiped out. I`m not looking forward to it, just waiting. No doubt some will say "Oh that cannot happen."

The clever minds who break security codes, with time on their hands, and nothing else to do would just love it.

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I`m waiting for the day when the internet is messed up and whole swathes of internet traffic is stopped or wiped out. I`m not looking forward to it, just waiting. No doubt some will say "Oh that cannot happen."

The clever minds who break security codes, with time on their hands, and nothing else to do would just love it.

It can happen at the flick of a government switch.

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It happens during downsizing. The management fire a load of people and nothing bad happens, so they fire another load of people and again nothing bad happens so they keep doing it and eventually by sheer dump luck they fire the person who is actually doing all the work and the sh*t hits the fan. Generally management believe the person taking the credit is the one who actually knows how to work the system - sadly often not true. Then they try to hire the person back but by then he's seen the press reports and demands a fortune, if he'll come at all. Being fired may have given him his first holiday in ten years and he's reluctant to leave his beach.

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The problems at rbs are caused by outsourcing years ago.

Amongst a load of other things. Too much change in too little time being the main things.

The big thing was letting go loads of it bods years ago that actually knew how the place fitted together.

They are trying to sort it out - but ****** what a mess.

Ps - I wouldn't bee too confident the other big boys are much better placed.

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Bet they outsourced IT to India. Who are of course culturally obliged to always overpromise. The manager who did so, saving a small fortune at the time, will be long gone of course. I recommend anyone banking with them gets ahead of the queues to withdraw their cash now!

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It happens during downsizing. The management fire a load of people and nothing bad happens, so they fire another load of people and again nothing bad happens so they keep doing it and eventually by sheer dump luck they fire the person who is actually doing all the work and the sh*t hits the fan. Generally management believe the person taking the credit is the one who actually knows how to work the system - sadly often not true. Then they try to hire the person back but by then he's seen the press reports and demands a fortune, if he'll come at all. Being fired may have given him his first holiday in ten years and he's reluctant to leave his beach.

And he's probably smart enough to have made good use of his substantial redundancy cheque

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This happened In Ireland back in 2012, I remember it well.

RBS is that bad it even has it's own Wikipedia page.

https://en.wikipedia.org/wiki/2012_RBS_Group_computer_system_problems

The 2012 RBS computer system problems were technical issues affecting computers run by The Royal Bank of Scotland Group, including NatWest and Ulster Bank, which began on 19 June 2012.

In 2014, RBS was fined £56m over the incident.

A software update was applied on 19 June 2012 to RBS's CA-7 software[2] which controls its payment processing system. It later emerged that the update was corrupted by RBS technical staff.[3][4] Customers' wages, payments and other transactions were disrupted.[4][5] Some customers were unable to withdraw cash using ATMs or to see bank account details.[3][6] Others faced fines for late payment of bills because the system could not process direct debits.

Impact

Completions of new home purchases were delayed,[10][11] and some people were stranded abroad.[12] Another account holder was threatened with the discontinuation of their life support machine in a Mexican hospital,[13] and one man was held in prison.[14]

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Ps - I wouldn't bee too confident the other big boys are much better placed.

Maybe not but this is the third time it has happened within the RBS group. Hope Fred Goodwin is enjoying his golf today.

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And they want to eliminate cash!!!

tw@s

They already have - albeit unintentional.

Colour me stupid but I believe the heart of the major bank processing systems are coded in assembler. Fraught with complexity. Anyone know?

IBM mainframes have assembly codes run on them (or did). Even some ancient stuff like CICS/Cobol/Infoman too.

Been a while since I've worked in the banks, but it was wall to wall Oracle kit - which is almost all of a higher level than assembly code.

However I think the point remains that there could be some un-documented legacy assembly that someone has tried to use and failed with ; or tried to ammend and failed with that.

Or just quite simple that some poor schmuk has just found out that system ABC hasn't had a valid backup for months and is rolling the system back and forwards in desperation.

Trouble is with banks is there can be hundreds of systems linked together. One fails and everything else goes out of sync.

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