Bank of England's CHAPS Service Hit by Global Payments Issue, Causing Delays to House Purchases

Jul 18, 2024, 02:30 PM

The Bank of England has reported that its CHAPS service, one of the largest high-value payment systems globally, is experiencing delays due to a global payments issue. This disruption is affecting high-value and time-sensitive transactions, including some house purchases. The issue, which has raised concerns about the stability of the financial system, is speculated to be linked to cyber attacks.