Stay tuned with CashEssentials news ! - beyond payments
By subscribing, you accept our Privacy Policy.

Biggest online fraud in the United Kingdom

Categories : Cash is trust, Cash protects privacy and anonymity
December 7, 2016
Tags : Commercial bank, Data breach, Security, United Kingdom
British bank, Tesco, has experienced the UK's largest breach this November with about 9,000 customers affected and £2.5 million stolen.
Communication Team / Equipo de Comunicación

In early November, about 9,000 customers of the British bank Tesco had their current bank accounts plundered by a group of swindlers, representing a total value of £2.5 million. After having first suspended all transactions, the bank rapidly refunded the victims. According to Andrew Bailey, Chief of the Financial Conduct Authority (FCA), the United Kingdom has never experienced such a significant breach.

Benny Higgins, CEO of Tesco, described the attack as “systematic and sophisticated” and accused a security flaw. According to his statement, no personal data have been compromised during the accident. The bank is now collaborating with the National Crime Agency to identify the criminals.

To read the original article, click here.