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Harper Maddox
- 23 March 2025
UK Banks Ordered to Pay Millions After IT Failures Disrupt Services
Major UK banks face hefty compensation payouts after IT failures led to over 33 days of customer service disruptions. Barclays anticipates paying up to £12.5 million due to incidents causing widespread online payment issues. The Treasury Committee calls for improved crisis management and customer communication, highlighting the significance of these failures on trust in the banking sector.
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