High Fraud Prevention stated that “no customers suffered

High staff moral does not only build up theinternal culture of a bank, it also improves customers perceptive of the bankwhich in all improves their reputation. Nowadays all businesses rely on technology to completedaily tasks.

One thing that has become more common is the hacking ofbusinesses, especially large corporations, for example, to steal customerinformation in order to commit fraudulent activities. The repercussion banks face aftera security breach is that customers will lose confidence in them as they feelthat they did not take all precautions to prevent the cyber-attack. They will notfeel comfortable giving them they’re personal information anymore and willrather switch to a bank that hasn’t had any systems breached.   In April 2013, Barclays branch Swish Cottage (London)computer systems were hacked into and the cyber attackers were able to steal£1.

3 million from customer’s account. Barclays claimed that a significantamount of the money was recovered and Alex Grant, the Managing Director, FraudPrevention stated that “no customers suffered financial loss”. However, a shockthat was uncovered later was that an employee name JEAN JACQUES was involved in the attack. 


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