8 Nov, 2016 @ 10:25
1 min read

Hunt begins for Spanish fraudsters who stole millions from Tesco Bank customers in biggest ever raid on a British bank

tesco bank e

tesco-bankAN international criminal gang has stolen millions of pounds in an unprecedented cyber-attack on Tesco Bank.

Spanish and Brazilian fraudsters hit more than 25% of the UK bank’s current account holders in the attack.

They gained access to 40,000 of the bank’s 136,000 current accounts and stole money from 20,000 of them.

Customers found that their accounts had lost anything between €30 and €3,300.

Tesco was forced to freeze all online transactions yesterday after what was the biggest ever raid on a British bank.

A police investigation has revealed that Tesco Bank had been repeatedly warned about its lacklustre security systems and that fraud rings in Brazil have been targeting the chain for months.

The level and sophistication of the attack has led experts to fear a criminal network or even a foreign government may be responsible.

The National Crime Agency, Financial Conduct Authority and Information Commissioner’s Office are investigating the attack.

The bank apologised to its customers yesterday after they accused it of treating them with ‘complete contempt’ and making ‘pathetic’ offers of €30 compensation.

CEO of Tesco Bank Benny Higgins said: “We can reassure customers that any financial loss as a result of this activity will be resolved fully by Tesco Bank.”


Laurence Dollimore

Laurence has a BA and MA in International Relations and a Gold Standard diploma in Multi-Media journalism from News Associates in London. He has almost a decade of experience and previously worked as a senior reporter for the Mail Online in London.

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