RBS 'Glitch' Goes Airborne As Biggest Russian Bank Halts All Credit, Debit Card Operations

Tyler Durden's picture

It seems IT professionals around the world are #failing as the 'glitch' that affected millions of account holders in the UK has leaped the channel and spread across Europe to infect Sberbank - which just happens to be the largest Russian bank. Via Bloomberg:


and from Interfax:

RUSSIA-SBERBANK-CARDS-MALFUNCTION MOSCOW. July 6. (Interfax) – Sberbank of Russia (RTS: SBER) has suspended credit and debit card operations due to a technical malfunction, the bank told Interfax. “All cards are not being serviced,” it said.

How many times did these glitches occur among the world's largest and likely highest paid IT services groups before the European financial crisis pulled back the curtain and showed the proximity of the liquidty cliff for so many of the 'biggest' banks in the world?


Sberbank just happens to be the biggest Russian bank...

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q99x2's picture

My money is headed to the mattress today.

camaro68ss's picture

JPM, BAC, going to have a glich soon too?

El Viejo's picture


camaro68ss's picture

normal sheeple find the closest card board box to hide under, then wait for FEMA to come and feed them after the storm

CPL's picture

I was wondering when Russia was going to go tits up again.


Wonder how long it take to make banking executives disappear into the siberian front.

Followmelightbulb's picture

Maybe the Russian glitch had something to do with "paying the price"


Clinton: Russia & China will 'pay price' for supporting Assad


jus_lite_reading's picture

>>"My money is headed to the mattress today"<<


Why did it take you THIS LONG to reach that decision? 

Keep a small amount in to pay bills and everyday expenses. Keep $40k cash on hand at all times. The rest is all GOLD AND SILVER!!

Don't worry about everyday price fluctuations in gold/silver... just buy and hold till the end of the financial world!

Deo vindice's picture

@ JL Reading - I agree fully with your sentiment, but do you know how few people in this debt-obssessed society could lay their hands on $40k? They could hold a convention in a phone booth.

bigwavedave's picture

Someone is going to blame Tyler Durden. I know because I read the book.

EL INDIO's picture

Hey, is your picture a dude with awesome boobs ?

GMadScientist's picture

Credit Angst Halt.

GeneMarchbanks's picture

Hitlery works fast. Speech, cyber-attack, Pot-au-feu by supper...

Bolweevil's picture

Flame is self-aware, doesn't like bankers apparently.

Oldballplayer's picture

Thats OK.  They have those freakin little giraffes protecting the vaults.

tocointhephrase's picture

the name always reminds me of tadpoles dont know why

EL INDIO's picture

Skynet preventive strike


No seriously:


We may be witnessing the stealth implementation of a new financial system.

EL INDIO's picture

I’m just speculating here. But imagine that secrete treaties have been signed to implement a new system to replace the dying one. I would think, that initially, it has to run in parallel to the existing one to avoid big disruptions then when they are sure it is ready everywhere they would announce/do the switch. This thing is of course too big to let the people know (you know to avoid panic) so it has to be implemented secretly, slowly and area by area to avoid suspicion. I imagine that they are doing a major upgrade

(perhaps both software and hardware) which requires machines to be shutdown/rebooted.

Amish Hacker's picture

It seems equally likely that instead of running two systems in parallel they would simply allow/cause the first system to fail, then present the next phase of the NWO as the solution. Tah-daah! We fixed it. The Muppets will feel nothing but gratitude.

EL INDIO's picture

The new one has to be ready.

You can't role out such a thing overnight !

Ranger4564's picture

What if they intend to crash the present banking system and not roll out another one?  No Tah-daah, and nothing like gratitude... we're in shock, awe, disbelief, grief, angry, frustrated, soldiers arrive, military lock down, martial law, good time to finally acknowledge knowledge of aliens and alien history, new global awakening, new feudal system imposed, sheeple will be sheeple^3. Greed prevails, everyone celebrates for having been right about human nature, except that human nature never had a chance to surface because we were always living in a controlled environment, where certain traits are bred in others out. 

Are you looking at me funny?  Pew Pew.  You were looking at me funny... no more.  Ta-da! ;-)

Mitzibitzi's picture

Which will obviously leave everybody who ain't holding PMs, land and physical commodities in the poor-house. Cos that's been the plan all along!

sabra1's picture

believe me, this ain't no glitch!

i-dog's picture

+1.  Just acceptance testing the takedown (switchover to red money) ... live! on the production system, in the case of those without a full-function test bed.

Ranger4564's picture

Not every glitch is equal.  Maybe the Oligarchs have the british banking bitchez under control, so the RBS glitch was a heist... maybe the Oligarchs don't have control of the russian banking system yet, so this glitch may be an attack.  I recall hearing, whether right or wrong, that Putin / Medvedev were fighting to prevent the Rothschilds from taking control of Russia... not sure Putin is not already a Rotschilds puppet, that he has that kind of power, or that the country is nonetheless not already under Rotschild control.

Anyhow, I am waiting to see if this was an inside job, outside job, top down job, bottom up job... or just a fuckup.  As far as I'm concerned it could be an internal halt for many reasons, an attack from an outside party such as the arch enemy, or a directive from the R family types, or a hack by the legions of software engineers who have back doors... robin hood style.  Until we see a broader pattern, of this type of event plus the liebor type of revelation, I can't decide.

I agree with you for the most part, most likely condition is a top down take down to undermine the citizenry / investors.

FXPortent's picture

I don't know if this is just comical or downright horrible.


Millions are spent each year on personnel and new hardware/software, yet they still can't get the basics down.


Mitzibitzi's picture

I hope that was sarcasm? You'd have to still believe in Santa to fall for the official 'glitch' stories.

Umh's picture

Just barely good enough to get by meets unintended consequences. Having worked in the IT field from the 70's I'm inclined to believe that security was once again ignored. Most organizations are just lucky that they don't have anything worth attacking. When you combine that with vendor or government back doors you need to pray you have a paranoid systems staff.

Kaiser Sousa's picture

Money n the bank = "psyche yo mind"... Silver mother fuckerzs..

Uncle Remus's picture

Being in IT, I have a rule against working with casinos.

magpie's picture

Long Flame derivatives...

fuu's picture

Flaming ruin all around.

ich1baN's picture

I used to work for JPM and I was directly involved with accounts that dealt with SBERbank... there were always problems back then between reconiliation and dividend payouts. Looks like the short stick has finally hit the depositor on file. I wouldn't be surprised if we see in 3 weeks similar problems to some US banks.

caimen garou's picture

Dont worry its just the russians maxed their accounts by sending money to the obamas re-election fund!

francis_sawyer's picture

all your deposits are belong to us...

pods's picture

I would bet another of our engineered viruses has escaped into the wild.


foxmuldar's picture

Its my Money and I want it Now! 

TheCanadianAustrian's picture

I once purchased some professional services from a local club. Very friendly folks. They were willing to extend credit to me even though I had no real history. They knew a lot about motorcycles too. When they came to me and asked for payment, I had the money, there wasn't any problem in that aspect. I explained to them that there was a technical malfunction in my wallet and I couldn't open the zipper. I said I had the best engineers in town working on a solution, and was hopeful that the issue would be ironed out very soon. They were obviously upset, but they understood that these things happen and they weren't about to risk harming my solvency by doing something drastic.

tony bonn's picture

glitch my fat ass.....this is capital control in the kindest case and outright theft in the worst.....i am inclined toward the latter.....

franzpick's picture

SHTFPLAN.com points out that stores cannot make change for very long, and recommends storing 1-2 months cash needs in $1s, $5s and $10s, a nice 6 inch average stack: the $20s, $50s and $100s you stashed away may be hard to use.

TPTB_r_TBTF's picture

no no, the 20s, 50s and 100s are the correct dominations to stash.

Things that cost 1$ before, will cost a few 20s after SHTF. Stuff going now for $5 will cost a few 50s, etc...

Hope you got a BIG mattress.

monad's picture

Last Man Standing. Hey kids, you like musical chairs?