TSB IT failure led to 10,600 fraud cases, FCA says

FCA chief executive Andrew Bailey told MPs on the Treasury Select Committee there had been about 10,600 incidents of fraud relating to the bank's IT meltdown.Mr Bailey said the FCA has had some "quite frank conversations" with TSB about their level of communication and the watchdog had been "not satisfied" with it.Dr Pester admitted to the committee that up to 1,300 TSB customers suffered financial loss due to fraudsters following the IT system failure.