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Major IT Glitches Hit UK’s Leading Banks Over Two Years

by News Editor

March 10, 2025

Britain’s largest banks have experienced significant IT outages over the past two years, blocking customers from accessing their accounts and causing widespread disruption. According to a report from the Treasury Committee, nine major UK banks and building societies suffered a total of 803 hours of unplanned technical failures, equating to more than 33 full days of service downtime. These glitches have affected millions of customers, raising concerns over the reliability of the UK banking sector’s digital infrastructure.

The data, compiled by the Treasury Committee, reveals that between January 2023 and February 2025, there were at least 158 separate IT failures across institutions such as Barclays, HSBC, Lloyds, Nationwide, Santander, NatWest, Danske Bank, Bank of Ireland, and Allied Irish Bank. However, the reported figures exclude more recent outages, including a series of disruptions affecting Barclays between January 31 and February 2, as well as several banks on February 28. The Committee is seeking further information on these additional incidents.

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Barclays was the most affected, with 33 outages reported, including one that caused 56% of online payments to fail. The bank is now preparing to compensate customers, estimating between £5 million and £7.5 million in payouts. HSBC and Santander followed closely, each recording 32 outages during the period, while Nationwide, NatWest, and Lloyds reported 18, 13, and 12 disruptions, respectively.

Meg Hillier, Chair of the Treasury Select Committee, expressed concern over the impact of these failures, particularly for families relying on timely access to their accounts. “For families and individuals living paycheck to paycheck, losing access to banking services on payday can be a terrifying experience,” Hillier said. She commended the banks that have compensated their customers but urged others to reconsider their response and improve the support offered to those affected by such technical issues.

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Greek Tankers Transit Hormuz As Shipping Risks Rise In Gulf And Black Sea

by THEFUTURE.TEAM

March 16, 2026

Two tankers linked to George Prokopiou passed through the Strait of Hormuz as regional tensions continue to affect shipping routes in the Gulf.

Safe Passage Through Hormuz

The tanker Smyrni, operated by Dynacom Tankers Management, was observed off the coast of Mumbai on Saturday morning after its earlier positioning in the Persian Gulf. The vessel, like its predecessor Shenlong, temporarily disabled its transponder during transit, a common practice in these narrow channels under uncertain conditions.

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Robust Market Commitments

Despite reduced shipping traffic through the strait, Dynacom has continued expanding its fleet. The company recently ordered four additional VLCC tankers from Hengli Heavy Industry. Each vessel will have a capacity of 300,000 deadweight tonnes. With the new order, Dynacom’s VLCC program in Chinese shipyards now totals 16 vessels.

Security Incident In The Black Sea

In a separate incident, the Greek-flagged tanker Maran Homer sustained minor damage near Novorossiysk in the Black Sea. The vessel is operated by Maran Tankers Management, part of the shipping group controlled by Maria Angelicoussis.

Reports indicated the ship was struck by a missile or drone about 14 nautical miles from the port. The crew of 24, including Greek, Filipino and Romanian sailors, was not injured. The vessel, which was not carrying cargo, continued sailing under its own power.