Royal Bank of Scotland’s 2012 outage, caused by a failed software upgrade, saw 6.5m customers unable to make payments, check account details or use online banking for up to three weeks.

RBS was issued a £56m fine as well as paying out over £70m in customer compensation.

The company has also pledged to invest £750m into its IT systems over a three-year period, to prevent similar problems occurring again in the future.

Interestingly, RBS launched its own review into the incident to determine who was responsible, after which it decided to reclaim bonuses from 16 employees. It also cut the bonus pool at the responsible department.

Source: The Telegraph

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