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 Dollimore is a Spanish-speaking, NCTJ-trained journalist with almost a decade’s worth of experience.
The London native has a BA in International Relations from the University of Leeds and and an MA in the same subject from Queen Mary University London.
He earned his gold star diploma in multimedia journalism at the prestigious News Associates in London in 2016, before immediately joining the Olive Press at their offices on the Costa del Sol.
After a five-year stint, Laurence returned to the UK to work as a senior reporter at the Mail Online, where he remained for two years before coming back to the Olive Press as Digital Editor in 2023.
He continues to work for the biggest newspapers in the UK, who hire him to investigate and report on stories in Spain.
These include the Daily Mail, Telegraph, Mail Online, Mail on Sunday and The Sun and Sun Online.
He has broken world exclusives on everything from the Madeleine McCann case to the anti-tourism movement in Tenerife.

GOT A STORY? Contact newsdesk@theolivepress.es or call +34 951 273 575 Twitter: @olivepress

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

snow in spain
Previous Story

Cold front bringing snow, high winds and heavy rain to Spain

Neymar
Next Story

Barcelona set to launch appeal against Neymar corruption trial ruling

Latest from Business & Finance

Go toTop

More From The Olive Press

Spanish Property Market

Good news for homeowners in Spain as property prices surge by 8.1% – this is where they grew the most

PROPERTY prices in Spain have increased by 8.1% year-on-year, latest

Horror in Spain: Torched body of pensioner is found in boot of burning car

THE charred body of a pensioner has been found in