Work continues to restore services at charity bank
Kent-based CAF Bank said teams are working through the weekend after it suspended online services.
Efforts are ongoing to reinstate services at a charity-focused bank, with online access still suspended a week after potential cyber fraud led to the shutdown.
Specialists are working to bring CAF Bank's online services back online. The West Malling, Kent-based institution stated it's "not yet in a position to safely restore the service" due to a newly discovered flaw in third-party software.
CEO Alison Taylor confirmed that teams are collaborating with technology partners and external experts, working through the weekend to fix the problem. She assured customers that the core banking system is secure, funds are safe, and payments are being processed, with time-sensitive transactions like payroll being prioritized.
CAF Bank, which caters to over 14,000 UK charities and non-profits, halted online services on July 24 following reports of suspected cyber fraud. This disruption has caused concern among some charities regarding their ability to pay employees and suppliers.
In a customer update, Taylor detailed that staff are processing payment instructions, including payroll, and making outbound verification calls. She added that more staff have been allocated to telephone banking, and temporary procedures are in place to expedite bulk payments.
"I am acutely aware of the challenges that this will be causing and that many customers are facing long delays to get through to us on the phone," Taylor acknowledged. She also noted that regulators and law enforcement agencies have been kept informed.
CAF Bank committed to providing further updates as new information emerges.