- Lloyds Banking Group has issued compensation following an IT malfunction on 12 March that exposed the personal data of nearly half a million customers.
- The incident affected 447,936 customers across its Lloyds, Halifax, and Bank of Scotland brands, with some able to view other people’s financial transactions.
- Lloyds confirmed that 114,182 customers actively clicked on and viewed these exposed transactions, potentially seeing detailed information such as account details and national insurance numbers.
- The bank has paid out £139,000 in compensation to 3,625 customers for distress and inconvenience, though no financial losses have been identified so far.
- The malfunction was attributed to a 'software defect' from an overnight IT update, prompting an apology from Lloyds' consumer relations boss, Jasjyot Singh.
IN FULL
