Glitch in HBSC online banking system

It was reported that on Monday the online banking system of HSBC broke down causing problems and losses to its customers. This was the second time Hongkong and Shanghai Banking Corporation clients suffered from an incident like this in the last 3 months. The previous one was on April 15.

There is still no official statement about the reasons of the breakdown. Neither have any offers of compensation been made. However one of the banks clients has reported that he was offered HK$8,000 reimbursement to cover an HK$11,000 loss.

HSBC has officially acknowledged the problem and confirmed that it lasted or 15 minutes between 10am and 10:15am. During that period customers were not able to access their accounts as the system did not respond to instructions. As a result many clients were unable to sell shares right at a specific time resulting in the losses.

Currently the bank has 1.6 million internet banking users.