Zero Hedge
By Tyler Durden – October 1, 2021
Authored by Nick Corbishley via NakedCapitalism.com,
Twenty banks (some suffering repeated outages), six countries (one in lockdown), five continents, tens of millions of unhappy customers.
There’s never a good time for your bank’s IT system to go down. But few can be worse than in the middle of a lockdown. It’s difficult to leave home, your local branch may not be open, and as a result you are more reliant than ever on digital banking services. In New Zealand, now in its seventh week of nationwide lockdown, one of the country’s largest lenders, Kiwibank, went down on Tuesday, leaving many of its customers in the lurch. It is one of a string of IT outages the bank has suffered over the past three weeks, after a DDoS attack on New Zealand’s third largest Internet provider caused IT crashes at a number of lenders, including Commonwealth Bank and Anz Bank.