Tesco Bank Fraud: All halted online transactions will be restored soon

Tesco Bank has confirmed the news of withdrawal of money from some of the accounts fraudulently. In reaction, the Bank has halted all the online transactions to avoid from any more loss.

About 20,000 accounts have been affected in this hacking, sources told. Many of the e-mails and phone calls have been received to bank soon after the problem observed by its customers.

Bank started work for the restoration of the encountered probe and freezes all the online transactions by taking quick action. Many of the cards have also been frozen after tens of thousands of Tesco bank accounts hacked by fraudsters, media reported.

Thousands of customers are claiming that they have missed hundreds of pounds from their accounts.

However, Mr Higgins told BBC’s about 20,000 customers have had money taken from their accounts, with “suspicious activity” identified in another 20,000 or so.

Tesco Bank will “ensure they do not lose out financially” and accounts will be refunded“as soon as possible”, he said.

“We continue to work with the authorities and regulators to address the fraud and will keep our customers informed through regular updates on our website, Twitter and direct communication,” he added.

He said the “fraudulent criminal activity” was first identified late on Saturday night.

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A note from the chief executive on Tesco Bank’s website

In a message being displayed on the website of Tesco Bank the Chief Executive has apologised from the customers for worry and inconvenience. He assured that our teams are working for the restoration of the bank activities to normal.

Tesco Bank, which is a British retail bank and has been wholly owned by Tesco PLC since 2008, was founded in 1997. the bank has about 7.8 million customer accounts.

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