Customers of Lloyds Banking Group suffered problems because of denial of service attack

23 January 2017

lloyds banking groupLargest banks in the United Kingdom were attacked by cyber criminals with electronic banking services provided by Lloyds Banking Group interrupted for several days. Two weeks ago blue chip financial companies were hit by denial of service attack, according to the latest reports. Meantime, only customers serviced by Lloyds had issues with the access to their accounts.

The cyber attack with heavy traffic aimed to disable the website of the Group had impact on Lloyds, Halifax and Bank of Scotland brands. A great number of account holders were unable to use the electronic services, including balance check and making payments. However, no information is available about any losses on the part of consumers. Reports further disclose that TSB divested from Lloyds Banking Group somewhat three years ago, was also affected as it continues using technology platform of the Group.

A month ago another attack was committed on Tesco Bank resulting in 2.5 million pounds repaid by the bank to its customers which suffered money theft. The investigation into the cyber attack on the bank is conducted by the National Cyber Security Centre and the National Crime Agency. There is also a separate probe led by the Financial Conduct Authority.

According to the comments made by NCSC, if the financial institution shares more information the agencies will be able to provide better assistance and mitigate future attacks. Still it is the responsibility of the financial services and banking companies to take care of the security in their networks and make investments to that end.

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