Thousands of UK charities are facing disruption after CAF Bank, a specialist lender to the non-profit sector, temporarily shut down its online services following an "attempted fraud." The bank, which serves over 14,000 charities, identified "suspicious activity" and a "previously unknown vulnerability" in its online portal. While the bank assures customers that their money is safe, the closure prevents access to essential services like payments and payroll.

Charities are being directed to use telephone banking, but many report "several-hour waits." CAF Bank is working with a "global technology partner" to patch the vulnerabilities and restore services. This is not the first time the bank has experienced online disruptions, with a previous IT upgrade also causing issues for users last year.

Alison Taylor, chief executive of CAF Bank, apologized for the "disruption and frustration," noting that while telephone support is available, they must prioritize time-sensitive transactions like payroll. CAF Bank is a subsidiary of the Charities Aid Foundation and holds £1.45bn in customer deposits.