The Worst Cyber Crime in UK History

After this week’s cyber scandal, Tesco Bank made payments of £2.5 million to the customers.

Today, the supermarket retailer announced that the full service had resumed their financial arm after 9000 people lost their money from the Tesco Bank accounts due to the cyber-crime incident.

Reportedly, GCHQ investigates the incident which has been considered as the worst cyber-crime attack on a British Bank, over the fear that it may have been state-sponsored.

Primarily, 20,000 upwards thought to be the number of defrauded accounts, but later it was revised to 9000.

According to Benny Higgins the Tesco Bank Chief Executive: “We’ve now refunded all customer accounts affected by fraud and lifted the suspension of online debit transactions so that customers can use their accounts as normal.

“We’d also like to reassure our customers that none of their personal data has been compromised.” He added.

Andrea Bailey the chief executive of the Financial Conduct Authority, who is investigating the incident told the MPs:  “There are elements of this, as far as we can tell at the moment, that look unprecedented.

“The heart of concern is what is the root cause of this and what it tells us about the broader threats.”

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