Tesco Bank has taken the drastic measure of temporarily halting all online transactions after thousands of customers have seen hundreds of pounds wiped from their savings accounts over the weekend due to an online hacking attack.
The bank has now suspended online transactions for current account holders.
Customers affected by the block will still be able to withdraw cash and use other services.
On Twitter customers reported seeing as much as £700 disappearing from their available balance.
Customers affected by the block will still be able to withdraw cash and use other services.
On Twitter customers reported seeing as much as £700 disappearing from their available balance.
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Benny Higgins, chief executive of Tesco Bank, on Monday, confirmed that that about 20,000 customers have had money taken from their accounts, with "suspicious activity" identified in another 20,000.
The total is considerably more than the figure the bank was quoting on Sunday of fewer than 10,000 accounts.
Almost 20,000 Tesco Bank customers have had their money stolen from their accounts after the banking arm of UK's biggest retailer fall victim to a hacking attack this weekend.
As a result of the hack, Tesco Bank has frozen online transactions in an attempt to protect its customers from, what it described as, the “online criminal activity.”
However, customers can still use their debit and credit cards for cash withdrawals and card-based payments.
Others complained about a lack of communication from the bank and hours spent on hold.
Higgins said the bank is "taking every step to protect" customers.
Speaking to the BBC, Higgins sought to reassure customers saying he was "very hopeful" customers would be refunded within 24 hours.
Higgins said: "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."
Benny Higgins, chief executive of Tesco Bank, on Monday, confirmed that that about 20,000 customers have had money taken from their accounts, with "suspicious activity" identified in another 20,000.
The total is considerably more than the figure the bank was quoting on Sunday of fewer than 10,000 accounts.
As a result of the hack, Tesco Bank has frozen online transactions in an attempt to protect its customers from, what it described as, the “online criminal activity.”
However, customers can still use their debit and credit cards for cash withdrawals and card-based payments.
Tesco Bank has not disclosed any details of the cyber attack or how accounts had been compromised, but Benny Higgins, chief executive of Tesco, confirmed that the hack affected 40,000 of its 136,000 accounts, half of which had already been used to withdraw money fraudulently over the weekend.
The bank would not disclose the total amount stolen from the accounts, but confirmed that the amount stolen was a "big number but not a huge number."
If you have been affected by this incident, don’t worry!Higgins has apologized for the "inconvenience" and announced that customers are not at financial risk, as any financial loss that results from this fraudulent activity will be borne by the bank.
“We are working hard to resume normal service on current accounts as soon as possible,” Higgins said.
The bank would not disclose the total amount stolen from the accounts, but confirmed that the amount stolen was a "big number but not a huge number."
If you have been affected by this incident, don’t worry!Higgins has apologized for the "inconvenience" and announced that customers are not at financial risk, as any financial loss that results from this fraudulent activity will be borne by the bank.
“We are working hard to resume normal service on current accounts as soon as possible,” Higgins said.
Others complained about a lack of communication from the bank and hours spent on hold.
Higgins said the bank is "taking every step to protect" customers.
Speaking to the BBC, Higgins sought to reassure customers saying he was "very hopeful" customers would be refunded within 24 hours.
Higgins said: "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."
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