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When will the CHAPS service disruption be resolved?
2
Resolution / Starting Odds
By July 31, 2024 • 25%
By August 31, 2024 • 25%
By September 30, 2024 • 25%
After September 30, 2024 • 25%
Official announcement from the Bank of England or credible news sources
Story
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.
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Cybersecurity breach • 25%
Technical malfunction • 25%
Human error • 25%
Other • 25%
Fines or penalties • 25%
Operational changes • 25%
Leadership changes • 25%
No significant consequences • 25%
Bank of England • 25%
Third-party supplier • 25%
Both • 25%
Neither • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
1 week or less • 25%
1-2 weeks • 25%
2-4 weeks • 25%
More than 4 weeks • 25%
After July 21, 2024 • 25%
By July 20, 2024 • 25%
By July 21, 2024 • 25%
Not resolved by end of July 2024 • 25%
By July 20, 2024 • 25%
By July 22, 2024 • 25%
By July 24, 2024 • 25%
After July 24, 2024 • 25%
By October 1, 2024 • 25%
By October 15, 2024 • 25%
By November 1, 2024 • 25%
Not restored by November 1, 2024 • 25%