Lloyds – PPI Claims Bank Hit By Cyber Attack

Posted on January 24, 2017 by Canary Claims Lloyds - PPI Claims Bank Hit By Cyber Attack

Lloyds, the bank who hold a £17 billion provision to compensate people for mis sold Payment Protection Insurance, has reported that it’s online banking system came under attack for two consecutive days, earlier in January 2017 from unknown hackers.

Lloyds PPI Claims Bank Hit By Cyber Attack

Credit: lloydsbankinggroup.com

lloyds Antonio Horta-Osorio, the banks CEO reported to the press that the companies website was affected by repeated denial of service attacks (DDoS) and this malicious hacking resulted in Lloyd’s, Royal Bank of Scotland and Halifax customers, being unable to access their online banking accounts.

TSB bank also reported that it’s online internet banking service was also hit with DDoS attacks.

Lloyds did however report that during the attack no money was stolen, nor did the bank receive any kind of ransom.

The Telegraph had more information to report about how DDoS attacks work and a history of these kinds of hacking events on UK Banks.

From the telegraph.co.uk

The DDoS attack, in which criminals flood websites with traffic to slow them down and stop them from working, is just the latest in a stream of cyber assaults on British banks, sparking mounting concern among regulators.

Last November, some £2.5m was stolen from 9,000 customers of Tesco Bank in what was the largest ever hack against a UK lender.

While DDoS attacks are common, they typically last for a short period of time. The assault on Lloyds, however, started on the morning of January 11 and did not stop until lunchtime on January 13, thought to be the longest such DDoS attack that Lloyds has ever suffered.

The National Cyber Security Centre (NCSC) is believed to have given Lloyds advice since the incident although the organisation, which is part of government spy agency GCHQ, is not running an active investigation into the matter.

Lloyd’s is one of the banks that will be affected by the 2019 ppi claims deadline.