Tesco Bank to freeze online transactions after hackers take money from customer accounts

Tesco Bank will freeze customers online transactions after falling victim to a hacking attack, its chief executive has said.

Tesco Bank to freeze online transactions after hackers take money from customer accounts

Tesco Bank will freeze customers online transactions after falling victim to a hacking attack, its chief executive has said.

Benny Higgins said the bank would halt online transactions for current account customers in the UK on Monday, in an emergency security measure.

Some current accounts were subjected to "online criminal activity" over the weekend, with "some cases" resulting in money being withdrawn fraudulently, he said.

The bank was earlier forced to block some customers' cards after "suspicious activity" was detected in its fraud prevention system.

Mr Higgins said: "Tesco Bank can confirm that, over the weekend, some of its customer current accounts have been subject to online criminal activity, in some cases resulting in money being withdrawn fraudulently.

"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 is why, as a precautionary measure, we have taken the decision today to temporarily stop online transactions from current accounts."

Mr Higgins said customers affected by the block will still be able to withdraw cash and use other services.

He also sought to reassure customers that Tesco Bank will "ensure they do not lose out financially" and accounts will be refunded "as soon as possible".

The bank is working with authorities and regulators to address the circumstances surrounding the security breach.

Thousands of accounts were reportedly affected after apparent fraudsters targeted the bank's clients, with customers taking to social media to alert the bank.

One man tweeted his available balance had dropped by £700 without him making a transaction while another said the disruption had left her "unable to feed my kids in school tomorrow".

Others complained about a lack of communication from the bank and hours spent on hold.

"We have been hacked, all money gone, no email or text! Appalling response from Tesco so far #nobodyanswering," one tweeted.

Tesco Bank, which opened in 1997 and has been wholly owned by Tesco PLC since 2008, has 7.8 million customer accounts.

more courts articles

Man (25) in court charged with murdering his father and attempted murder of mother Man (25) in court charged with murdering his father and attempted murder of mother
Man appears in court charged with false imprisonment of woman in van Man appears in court charged with false imprisonment of woman in van
Man in court over alleged false imprisonment of woman Man in court over alleged false imprisonment of woman

More in this section

FILE PHOTO The Competition and Consumer Protection Commission has cleared the purchase of Goodbody Stockbrokers by AIB END Goodbody Stockbrokers fined over €1.2m by Central Bank over rules breaches
Nottingham City Centre Stock Irish staff at the Body Shop wait for wages as retailer shuts stores in the Republic
Ryanair comments on Norwegian Ryanair boss O'Leary's spat with Transport Minister over Dublin Airport escalates
IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
ie logo
Puzzles Logo

Play digital puzzles like crosswords, sudoku and a variety of word games including the popular Word Wheel

Lunchtime News
Newsletter

Keep up with the stories of the day with our lunchtime news wrap.

Sign up
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited