CAF Bank, a financial institution serving over 14,000 non-profit organizations, has suspended its online banking services since July 24. The decision follows reports of suspected cyber fraud, leaving many charities unable to process payroll or pay suppliers.
The outage has caused significant distress for affected groups. Kevan Hodges, chief executive of the Maidstone-based charity 21 Together, described the situation as “appalling,” noting that his staff are anxious about receiving their wages. Similarly, Bali Rodgers, head of the Safer Communities Alliance, stated that the lack of consistent communication from the bank has caused organizations to lose trust in the service.
In response to the disruption, CAF Bank Chief Executive Alison Taylor issued an apology, clarifying that the issue stems from a vulnerability in third-party software associated with the online portal. Taylor emphasized that the core banking system remains secure and that the bank is working with external experts to resolve the technical fault.
While the online platform remains unavailable until further notice, the bank has stated it is prioritizing time-sensitive transactions, such as payroll, through its telephone support teams. The institution maintains that it will not restore online access until it is certain the security issue has been fully addressed.
Source: BBC News
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