Lloyds Banking Group has revealed that a significant number of joint account holders may have had their transaction details exposed due to an IT glitch. This incident occurred on March 12, 2023, and potentially impacted over 520,000 customers.
The software defect arose after an overnight IT update. During this time, 446,915 customers logged into the app. Of these, 107,937 clicked on transactions belonging to others.
Key statistics include:
- 80,508 joint account holders potentially affected by the breach.
- £201,000 paid in compensation to 5,250 customers since March 24.
- An additional £62,000 in goodwill payments made to 1,625 customers.
Lloyds Banking Group stated, “We also issued an alert on the app home screen to these 80,508 joint account holders.” Customers reported seeing unfamiliar payments. One Bank of Scotland customer said, “I logged in and seen a payment I didn’t recognise and I refreshed it and it was gone.” Another asked, “Why are transactions coming out to London when I live in Scotland?”
Despite the alarming nature of this breach, Lloyds has not observed an increase in daily levels of fraud since the incident. However, the full impact of this data breach remains unclear.
Lloyds continues to address customer concerns while managing the fallout from this significant IT glitch. Further updates are expected as they investigate the incident.
