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Money Box: Cyber-Attack Hits Home Sales and Charity Bank Accounts

02/12/2023

Cyber-Attack Hits Home Sales and Charity Bank Accounts

BBC Radio 4 - Money Box, Cyber-Attack Hits Home Sales and Charity Bank Accounts

Hundreds of house sales stuck in limbo after a cyber-attack last week.

House sales stuck in limbo after a firm providing services to hundreds of conveyancing firms was hit by a cyber-attack.

Property buyers have said their home completions are being left in limbo after a company providing IT services to law firms was hit by a cyber incident.  Money Box has found some of the UK's largest lenders have begun extending mortgage offers for those affected. 

A national debt charity is calling on lenders to improve the way they identify customers who're getting into problem debt.  StepChange says its recent research shows almost half of people with credit debt are experiencing difficulty with household bills and 1 in 6 adults are using credit to make ends meet.   UK Finance which represents banks and credit card companies says lenders are committed to lending responsibly.

Charities are facing weeks or even months unable to access their own money thanks to the unexpected closures of their bank accounts.   We've been getting emails about accounts being closed without people being given any reason or warning.  UK Finance says banks will only take a decision to close an account after an extensive review and analysis. 

Presenter: Paul Lewis 
Reporter: Dan Whitworth
Researchers: Sandra Hardial and Jo Krasner
Editor: Jess Quayle

(First broadcast 12pm Saturday 2nd December 2023)

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