Cyber fraudster has stolen money form almost 20000 customer account of Tesco Bank. The banking arm of U.K. retail chain Tesco has suspended online payments for its some current account customer on this weekend.
The bank suspended its payment service for current account customers after 40,000 experienced suspicious transactions, bank CEO Benny Higgins told BBC on Monday.
Tesco Bank has not disclosed any details of the cyber attack or how accounts had been compromised, but CEO Benny Higgins confirmed that the hack affected 40,000 of its accounts, half of which had already been used to withdraw money fraudulently over the weekend.
“While online transactions will not be available, current account customers will still be able to use their cards for cash withdrawals, chip and pin payments, and all existing bill payments and direct debits will continue as normal.We are working hard to resume normal service on current accounts as soon as possible, chief executive Benny Higgins said in a statement this morning. ”
We can reassure customers that any financial loss as a result of this activity will be resolved fully by Tesco Bank, and we are working to refund accounts that have been subject to fraud as soon as possible, Higgins said.
Tesco Bank, started in 1997 and has been owned by Tesco PLC since 2008, has over 7.8 Million customers and 4,000 staff. Tesco Bank referred to “online criminal activity” and “fraud” in a statement about the incident, but did not use the word “hack” in relation to the missing funds.
The bank said it detected suspicious activity within its customers’ accounts on its system on Saturday night and started sending text messages to customers on Sunday, alerting them to the problem and inviting them to call for further information. Customers, meanwhile, complained loudly on social media about the bank’s responsiveness to the situation. They are saying that there is no response from customer care.