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(Alliance News) - IG Group PLC is under fire from clients who have seen funds incorrectly removed from their accounts and not refunded more than a week later, the Financial Times reported on Friday.
The London-based company, which offers investing and spread betting services, is currently manually refunding clients after an IT glitch resulted in money being mistakenly removed from a number of Isa accounts, the report said.
Two IG clients told the FT they were incorrectly paid double the amount they should have been for a trade placed this month. While the error was corrected on the day, a few days later the amount was withdrawn from both their accounts a second time.
https://www.ft.com/content/a5a34e16-0eec-4dbc-932d-69b239cee6ff
IG Group said it is aware of a technical issue with the settlement of a number of share trades that resulted in duplicate credit and debit of funds. It said it believes around 50 clients have been affected.
"The resolution is currently being worked through and we have been in contact with the affected clients. We will contact them again to keep them updated on the resolution," the company said.
Shares in IG Group rose 0.8% to 738.50 pence each in London on Friday.
By Jeremy Cutler, Alliance News reporter
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