MPs in the UK are concerned over the rise in the number of online failures and customer disruption from British banks.

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MPs in the UK are concerned over the rise in the number of online failures and customer disruption from British banks. With cloud services highlighted as a major worry and source of systemic risk.

There are further concern raised by a treasury committee report suggested that the three main UK regulators, FCA, PRA and Bank of England do not have the staff and experience to deal with the growing number of computer failures.

The report raises options for both financial levies and increased regulation to incentivise banks to improve their IT infrastructure and reduce technology risks.

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