The reporters claim they bribed royal chauffeur Brian Sirjusingh with $1,500 to get a private tour of the queen's fleet of vehicles.
The reporters, who posed as Middle Eastern businessmen, said they were allowed to enter the palace grounds without being checked for weapons or bombs. They also claimed that they learned code names for two of the queen's cars, were told about security weaknesses of some of the royal coaches, and even found out the queen's weekend travel plans.
It was a security breach of royal proportions.
London's Metropolitan Police is concerned about the security issues and is engaged in discussions with the palace about its security staff.
Even more troubling, the incident appears to be the latest of a number of royal security breaches.
Dai Davies, the former head of Royal Protection told ABC News that security should have "layers and layers." "What appears to me is that those fundamental basics seem either not to be in place or they have been compromised yet again," he said.
The royals, who often host heads of state, have been targeted several times over the years.
In a bizarre incident in 2004, Jason Hatch, a campaigner for the paternity rights group, Fathers 4 Justice, dressed up as Batman and scaled the balcony of Buckingham Palace, unfurling a banner to draw attention to his cause.
The year before that, self-styled "comedy terrorist" Aaron Barschak dressed as Osama bin Laden and gatecrashed Prince William's 21st birthday party at Windsor Castle. He got all the way to the prince, even kissing him on both cheeks before he was arrested.
The worst security breach dates back to 1982 when Irishman Michael Fagan broke into Buckingham Palace in the middle of the night. He made it into the queen's bedroom and watched her sleep.
She woke up when Fagan disturbed a curtain, and then stalled the intruder for 10 minutes until help arrived.