Experts have cast doubt on HSBC's explanation that a software fault caused the computer glitch that left customers stranded for most of Monday.

Some eight million customers were unable to access their bank accounts between 11.30am on Monday and 1.00am on Tuesday.

An HSBC spokeswoman said that the firm had a problem with its database software that had prevented staff and customers from accessing customer details. Account holders trying to access details online were also left stranded.

She added that she could not confirm the supplier of the database software as "it would give information to criminals".

But Clive Longbottom, an analyst at Quocirca, told vnunet.com: "It's very strange that the system was down for so long. It is beyond the realm of general understanding that a database would take it upon itself to lock users out, and a standard fault in the software would corrupt at least some data."

"So, that points the finger at either an employee who has done something stupid or a very clever hacker who has shut out the bank's administrators," he continued. "I think it's very unlikely that the bank was hacked in this case. It's more likely to have been an error by an HSBC IT administrator."

Customers complained of being unable to determine whether salaries had been paid in on time, or whether cheques had been cashed.

HSBC stressed that no data had been lost and that the bank was "as confident as we can be" that the software issue had been resolved. "People could still draw cash out of the machines," said the spokeswoman.

Longbottom also thought it odd that ATMs continued to dispense cash. "I'm surprised they allowed customers to take out money if they couldn't check their balances," he said.

See also:

Hackers leave IBM door ajar for two years

Failure by systems administrators to make a basic change to vital encryption technology or keep their server patched may have left hundreds of websites vulnerable to cyber-criminals, according to IBM.  12 Mar 2001

Customer details exposed in e-tailer hack

The credit card details of 98,000 customers may have been compromised in a web hack branded as "horrifying" by a leading security analyst.  06 Mar 2001

Online banking hangs in the balance

The UK's online banking pioneers have run into some problems. We look at what they are doing to turn around their fortunes.  08 Dec 2000

HSBC spurns UK for New York site

Financial services group HSBC is moving its UK online banking operation from Sheffield to New York, claiming that UK internet connectivity is not capable of hosting its global website.  26 Sep 2000

HSBC internet sites hacked

HSBC's UK internet site and three of its international sites have been hacked as part of an ongoing campaign in support of the fuel protest.  20 Sep 2000

Hacking marches in step with ecommerce

A booming internet economy might not be such a great thing. The growth in ecommerce is accompanied by a rise in international security breaches.  15 Feb 2000

Like this story? Spread the news by clicking below:

 del.icio.us     Digg this     reddit!