Bank of England Investigating Allegations Against Metro Bank

Sunday, 31 March 2024, 14:40

The Bank of England is conducting an investigation into claims that Metro Bank may have jeopardized customers' data security by mishandling software linked to its in-branch coin-counters. A whistleblower's concerns regarding the integrity of the software used to connect Metro Bank's Magic Money Machines to customer accounts prompted the inquiry. The alleged misuse of the software is part of a wider legal dispute, signaling potential data security issues at the high street lender.
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Bank of England Investigating Allegations Against Metro Bank

Bank of England Investigating Allegations Against Metro Bank

A whistleblower has raised concerns about the security of software used at Metro Bank.

Details of the Allegations:

  • Misuse of Coin-Counter Software: The in-branch coin-counter software, known as Magic Money Machines, is at the center of the concerns.
  • Whistleblower's Report: An individual contacted the Bank of England's whistleblowing team regarding potential risks to customer data.
  • Central Bank Inquiry: The Bank of England is investigating the claims to assess the security implications.

This development highlights the importance of data security in the financial sector, particularly with regard to customer information. The outcome of the investigation could have significant implications for Metro Bank and its customers.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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