Tesco Bank breach causes 20,000 customers to lose money

The fine details are still murky, but news surfaced in the last day or two that Tesco Bank , a U.K.-based bank owned by the Tesco supermarket chain, suffered some sort of widespread fraud. The bank’s CEO, Benny Higgins, told Radio 4 that around 40,000 of the bank’s 7 million accounts had seen “some sort of suspicious transactions.” Of those, around 20,000 customers have actually lost money from their bank accounts . In the interview, the CEO told the BBC he was “very hopeful” that customers would be refunded the lost funds. What he didn’t say is that I am sure he is also “very hopeful” that once this all washes up he and his IT team will still have jobs.

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