Monday 5 August 2019 3:44 pm

Fintech darling Monzo urges 500,000 users to change PINs after security bug

Digital challenger bank Monzo has urged users to change their PINs after admitting a data breach allowed members of staff to access security information.

The fintech said around a fifth of customers were affected by the leak, which saw some PINs stored in encrypted log files that Monzo engineers had access to. 

Read more: Losses jump more than 50 per cent at digital bank Monzo

Monzo said it finished deleting all the improperly stored information this morning after discovering the error on Friday. 


“No one outside Monzo had access to these pins. We’ve checked all the accounts that have been affected by this bug thoroughly, and confirmed the information hasn’t been used to commit fraud,” the bank said in a statement today. 

Read more: Monzo smashes £2bn valuation in fresh funding round

Monzo has contacted all customers affected by the breach via email and has recommended that they change their PINs at a cash point. 

All customers have been told to update the Monzo app following the incident.

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