20,000 hacked Tesco banking customers lose money over weekend

Online transactions have been halted as a precautionary measure

In very worrying news for customers of Tesco Bank, the organisation has apparently been the victim of a hacker over the weekend, and the attack is serious enough that a freeze has been put on all online transactions.

Apparently some 40,000 customers have had their accounts compromised, and half of those lost money, with the result that as of right now, Tesco has halted all online transactions from current accounts as a “precautionary measure”.

Benny Higgins, CEO of Tesco Bank, confirmed in a statement that some current accounts “have been subject to online criminal activity, in some cases resulting in money being withdrawn fraudulently”.

Higgins noted that the freeze on transactions only affects current accounts, and that it’s only online transactions which have been halted – customers can still withdraw cash using their card, make chip and pin payments, and all existing direct debits and standing orders will continue as normal.

Temporary freeze 

Of course, the freeze is only temporary, although Tesco didn’t say when we can expect the measure to be lifted.

Higgins further added: “We apologise for the worry and inconvenience that this has caused for customers, and can only stress that we are taking every step to protect our customers’ accounts.”

That obviously includes working with authorities to investigate and resolve the matter, and the bank also said that any financial loss customers have suffered due to the hack will be “resolved fully” with refunds coming as soon as possible. That’s certainly good to hear.

Via: The Telegraph