The Business Times
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UK regulators fine RBS US$88m for computer glitch

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Published Thu, Nov 20, 2014 · 09:50 PM

    London

    BRITISH regulators have fined Royal Bank of Scotland Group plc US$88 million (S$114.4 million) for the 2012 collapse of its computer system that left 6.5 million customers without access to their accounts for weeks.

    Britain's largest taxpayer-owned bank will pay the Financial Conduct Authority (FCA) £42 million (S$85.9 million) and the Bank of England's Prudential Regulation Authority (PRA) £14 million, the regulators said on Thursday.

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