Royal Bank of Scotland fined £56mln over computer glitchNovember 20, 2014 - 11:49 AMT PanARMENIAN.Net - Royal Bank of Scotland (RBS) has been fined £56mln ($87mln) by regulators after a 2012 software issue left millions of customers unable to access accounts. RBS, NatWest, and Ulster Bank customers were affected in June 2012 after problems with a software upgrade, BBC News reports. The Financial Conduct Authority fined RBS £42mln, and the Prudential Regulation Authority fined the bank £14mln. RBS chairman Sir Philip Hampton said the problems "revealed unacceptable weaknesses in our systems". In 2012, the bank set aside £125mln in compensation and costs because of the disruption. The fine comes on top of a £217mln FCA penalty for RBS last week over foreign exchange rate rigging. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. Armenian Foreign Minister regrets “tragic loss” of Iranian counterpart The Armenian Foreign Ministry has expressed shock over the death of the Iranian President and the Minister of Foreign Affairs. Armenian PM sends condolences to Iran Prime Minister Nikol Pashinyan sent a message of condolence to the Supreme Leader Seyyed Ali Khamenei. |