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Summer Journal

Volume 31, Issue 2

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Following recent technology glitches that hampered the largest banks in the United Kingdom, the timing of a recent whistleblower lawsuit that accuses the Lloyds Banking Group of faulty business continuity processes couldn't be worse (for Lloyds).

After all, Lloyds itself suffered two high profile technology outages in 2012, including an outage in October and a similar disruption on December 31. In the October incident, customers were not able to access the Lloyds’ online services, make payments via credit cards or withdraw money from ATMs. Less than three months later on New Year's Eve, Lloyd's customers experienced "intermittent" problems using ATMs and accessing banking account information.