Bank of England fines former TSB executive over 2018 IT failure

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13-04-2023 | 05:22
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Bank of England fines former TSB executive over 2018 IT failure
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Bank of England fines former TSB executive over 2018 IT failure

The Bank of England said on Thursday it had fined Carlos Abarca, the former chief information officer of TSB Bank Plc, 81,620 pounds ($102,115) for his failure to adequately manage a 2018 IT migration program which led to widespread disruption.

"The PRA has fined Mr Abarca because his management of a key outsourcing relationship fell below the standard we expect," said Sam Woods, the BoE deputy governor in charge of the central bank's supervisory arm, the Prudential Regulation Authority.
 

Bank of England

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TSB

Executive

IT

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Technology

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