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Tesco Bank: Cyber criminals steal cash from customer accounts

7th November 2016

Tesco Bank has confirmed that they have been targeted by cyber criminals who have stolen money from customer accounts.

Over the weekend Tesco Bank has said that some of its customers’ current accounts have been subject to online criminal activity and some cases have resulted in money being withdrawn fraudulently.

The bank’s Chief Executive said: "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. This will only affect current account customers. 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.  

"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.

"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."

What to do if you have been affected?

  • Be very wary of emails or text messages purporting to come from Tesco, particularly if they prompt you to click any links, download any attachments or give out any personal information. Tesco are contacting customers using these methods, but if you are in doubt and want to check their authenticity, get in contact with them on their verified Twitter account or website.
  • Be wary of anyone calling asking for personal information, bank details or passwords. If in doubt, just hang up.
  • If you have fallen victim to fraud or need advice on what to do if your account has been compromised, contact Action Fraud
  • For additional online safety advice visit Get Safe Online and Cyber Aware.

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