{"id":59618,"date":"2021-10-01T19:27:19","date_gmt":"2021-10-02T00:27:19","guid":{"rendered":"https:\/\/olduvai.ca\/?p=59618"},"modified":"2021-10-01T19:27:19","modified_gmt":"2021-10-02T00:27:19","slug":"banks-around-world-are-suffering-big-outages-leaving-millions-of-customers-in-lurch-at-worst-possible-time","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=59618","title":{"rendered":"Banks Around World Are Suffering Big Outages, Leaving Millions of Customers in Lurch At Worst Possible Time"},"content":{"rendered":"
\n

Banks Around World Are Suffering Big Outages, Leaving Millions of Customers in Lurch At Worst Possible Time<\/a><\/h3>\n<\/header>\n
\n
\n

Twenty banks (some suffering repeated outages), six countries (one in lockdown), five continents, tens of millions of unhappy customers.<\/strong><\/p>\n

There\u2019s never a good time for your bank\u2019s IT system to go down. But few can be worse than in the middle of a lockdown. It\u2019s 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\u2019s largest lenders,\u00a0Kiwibank<\/a>, 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,\u00a0after a\u00a0DDoS attack on New Zealand\u2019s third largest Internet provider<\/a>\u00a0caused IT crashes at a number of lenders, including Commonwealth Bank and Anz Bank.<\/p>\n

In a DDoS attack hackers overwhelm a site by getting huge numbers of bots to connect to it all at once, rendering it inaccessible. Servers are not breached, data is not stolen but it can still cause plenty of disruption.<\/p>\n

24 Million Unhappy Customers<\/strong><\/p>\n

New Zealand is not the only country to have suffered major outages within its banking system in recent weeks. Other countries include the UK, Japan, South Africa, Venezuela and Mexico, though there are no doubt more (if you know of any, It would be great if you could provide details in the comments section).<\/p>\n

On September 12,\u00a0operating failures<\/a>\u00a0at Mexico\u2019s largest bank, BBVA Mexico, left 24 million account holders unable to use the bank\u2019s 13,000 ATMs, its mobile app or in-store payments for almost 20 hours. It being a Sunday, customers could not even avail of the lender\u2019s in-branch cash services.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Banks Around World Are Suffering Big Outages, Leaving Millions of Customers in Lurch At Worst Possible Time Twenty banks (some suffering repeated outages), six countries (one in lockdown), five continents, tens of millions of unhappy customers. There\u2019s never a good time for your bank\u2019s IT system to go down. But few can be worse than […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[63,31881,31880,12913,27230,786],"class_list":["post-59618","post","type-post","status-publish","format-standard","hentry","category-economics","tag-banks","tag-ddos-attacks","tag-it-outages","tag-naked-capitalism","tag-nick-corbishley","tag-technology"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59618"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59618\/revisions"}],"predecessor-version":[{"id":59619,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59618\/revisions\/59619"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}