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25-06-2012, 10:21   #1
A2LUE42
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Current Banking issues

Just going to throw this one out there.

Could the current issues being experienced by RBS be malicious. Could this be the first bank targeted in this way ?
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25-06-2012, 10:32   #2
Monty Burnz
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Just going to throw this one out there.

Could the current issues being experienced by RBS be malicious. Could this be the first bank targeted in this way ?
There's a very small chance it could be malicious, but it's more likely due to a loss of tacit knowledge due to outsourcing their IT - the IT systems of banks are incredibly complex not because of the work they are required to do but because they typically built systems onto systems going back for 50 years. Making a change to one part can cause something to go wrong in one of the older systems, and if you gave the guy who worked on that old system for 30 years (and who knows it inside out) a golden handshake, then finding and fixing the problem can be a nightmare. A company I used to work in had its main customer billing system running on some 30 or 40 year old DEC system and there were only two guys in the company who understood it. One guy came into work everyday on two crutches, clearly very unhealthy...
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25-06-2012, 10:57   #3
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The systems powering RBS (which I have a little experience with) are an archaic mess.
Woefully inefficient scripts and batch jobs all stitched together with the coding equivalent of spit and bailing twine. There's a reason people working on these systems earn $Texas.
Shit is complex and requires a very definite and hard to come by set of skills.

The were slowly upgrading and replacing the systems when I was involved, but each rollout of a new system usually fell on it's arse at least once as some piece of esoteric knowledge was missing.
I wouldn't be surprised that something similar happened here.
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25-06-2012, 14:01   #4
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Just going to throw this one out there.

Could the current issues being experienced by RBS be malicious. Could this be the first bank targeted in this way ?
I wouldn't think so, it hit them quite hard and caused significant embarrassment. They already pulled their first shift ever on a Sunday to try and clear what must be a huge backlog.

I just don't see anything they could have gained from such an incident. Working in finance myself I would not be surprised to see heads roll over this, these are considered very serious events.
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25-06-2012, 14:28   #5
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Nothing malicious, just lazy IT and poor planning.

Last I heard the Ulster Bank was using an outdated system from the 1980's, and never bothered to upgrade it, they simply added a new patch now and then to update it bit by bit.

Of course anyone with any knowledge of computer systems and programming will tell you this can only be a short term fix, and will inevitably break the entire system.
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26-06-2012, 12:46   #6
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I work in another large UK bank and I can wholeheartedly concur with the above. Banks don't like to change things that work, hence we have systems that are ridiculously old, some of them have been out of vendor support for years.

I have seen first hand what happens when people who wrote bespoke packages are made redundant with no thought to what would happen if something went wrong, or when they don't even know what kit is involved in a particular application. Nightmare.

Of course, it is clearly more likely to be a massive conspiracy to bring on the new world order...

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26-06-2012, 13:23   #7
A2LUE42
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You guys are no fun..

It is most likely an issue with someone patching something that they don't know enough about. Happens in a lot of big companies.

but where is the conspiracy theory in that..
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26-06-2012, 16:32   #8
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You guys are no fun..

It is most likely an issue with someone patching something that they don't know enough about. Happens in a lot of big companies.

but where is the conspiracy theory in that..
Well try this..

Pose the question as to why the "skeptics" round here appear to also work in financial organisations... hhmmmm

coincidence..

I think not!
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26-06-2012, 20:16   #9
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latest from the Indo

http://www.independent.ie/business/p...s-3150794.html

National Irish Bank confirmed that it had a technical problem yesterday that prevented its customers accessing cash.

And AIB has admitted that a technical glitch meant its systems were down for a number of hours between Thursday night and Friday morning.

Both banks insisted the problems were minor and were quickly rectified. But IT security specialist Brian Honan, of BH Consulting, said a similar IT meltdown to the one at Ulster Bank was likely at other banks.

And professor of banking at the UCD Quinn School of Business, Eamonn Walsh, said major computer breakdowns had occurred in banks recently in Australia, Japan, Singapore and South Korea.
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26-06-2012, 22:50   #10
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While in the background they were shredding the night away lol
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26-06-2012, 23:25   #11
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Not a technical glitch or malicious. They are just modifying their system for the collapse off the Euro... But obviously can't just come out and say that ;-)
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27-06-2012, 04:43   #12
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If there were plans for a cashless society im sure this fiasco has dealt it a major blow
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27-06-2012, 14:48   #13
Monty Burnz
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If there were plans for a cashless society im sure this fiasco has dealt it a major blow
Yes, the global NWO elite appear to have dropped the ball yet again...
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28-06-2012, 00:15   #14
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I would consiter this incident as a small tea party of what's yet in store.

It would give you quite a good insight on how vulnerable people can under a cashless environment.

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28-06-2012, 00:37   #15
Monty Burnz
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I would consiter this incident as a small tea party of what's yet in store.

It would give you quite a good insight on how vulnerable people can under a cashless environment.

Nice of the all-powerful elite NWO to give the public this warning.
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