Customers of beleaguered UK bank TSB are now being hit by a surge of fraud and phishing emails following the bank's botched IT platform switch. Finextra reports criminals targeted TSB customers on social media with links to bogus bank websites during the bank's extended IT outage. Now the bank is back online the fraudsters are using the data they harvested to clean out accounts. The former CEO of Visa UK, Marc O'Brien, has been appointed CEO of mobile crypto bank Crypterium, reports Finextra. Crypterium raised £38.6 million in an "initial coin offering" and is using that to build its virtual card and mobile app to enable users to convert digital currencies into traditional currency for funds transfers and purchases at the checkout. State Bank of India, the country's biggest bank, has suffered a record US$1.1 billion quarterly loss as a bad loan crisis continues to sweep the country's lenders. The FT reports the state-owned enterprises that dominate India's banking sector have been hit by a surge in non-performing loans following heavy lending to large-scale industrial projects.