For at least 11 years, Bank of Ireland failed to have a robust framework in place to ensure continuity of service for both the firm and its customers in the event of a significant IT disruption, leading it to being fined €24.5 million by the Central Bank. It was a potential bomb inside a bank that is of systemic importance to the Irish business community and ordinary consumers. The issue was repeatedly identified from 2008 to the bank but due to so-called “internal control failings only started to be appropriately recognised and addressed in 2015.” The bank then spent the…

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