![]() ![]() “If these findings are right, Sabis rolled the dice by running tests on only one of TSB’s two new data centres and this decision was kept from me and the rest of the TSB board,” he said. In a statement on Tuesday Pester criticised Slaughter & May’s “scattergun approach” to its investigation and attempted to shift blame to Sabadell’s IT arm Sabis for the failures. The IT crash has cast a long shadow over the bank, as it tries to move on under new chief executive Debbie Crosbie, who is set to outline her strategy for the bank next week, as Reuters reported. TSB was bought by Sabadell in 2015, had to compensate for weeks of TSB customers being unable to access their money and rising fraud attacks. ![]() ![]() Sabadell continued to support TSB all the way through the investigation despite heavy public scrutiny and fallen faith by shareholders. The report by law firm Slaughter & May found TSB’s board failed “to fully understand the scope and complexity” of the new system prior to its failure, which forced out the then CEO Paul Pester after heavy criticism from customers and politicians. Investigations into the issue have been ongoing since it was reported, and reports today suggest that the main cause was a move to a new banking platform before it had undergone rigorous testing. TSB will have to tell MPs how far the debacle has exposed customers’ data, and how much, if at all, any accounts have been compromised.Last year, an IT crash that was reported which locked out two million TSB customers and halved Sabadell’s (BME: SAB) profit for last year.
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