Monzo, the fast-growing challenger U.K. challenger bank that recently soft-launched in the U.S., is disclosing a potential, albeit relatively limited, security oversight that saw customer PINs stored incorrectly within the company’s internal systems.

Discovered on Friday, the “bug” has now been squashed after being spotted by one of Monzo’s security engineers, co-founder and CEO Tom Blomfield told me on a call just a few moments ago. Specifically, the security lapse meant that some customer PINs were simultaneously stored in encrypted log files accessible by certain Monzo staff.

Although an audit hasn’t surfaced any fraud…

This is only a snippet of article written by Steve O’Hear

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