The cyber heist at Tesco Bank been described by the chief executive of the City regulator as an “unprecedented” incident in the UK. Tesco Bank stopped all online transactions for 140,000 current account customers on Monday after it discovered 40,000 customers had been targeted by the online attack. A new division of GCHQ – the National Cyber Security Centre – confirmed it was working with the NCA which has launched a criminal inquiry. Tesco provided no update on the status of its customers on Tuesday after suspending online banking transactions for current accounts in the wake of the incident. As the crisis was unfolding, Benny Higgins, chief executive of Tesco Bank, had said the decision to suspend some banking activities was an attempt to protect customers from “online criminal activity”.

Source: The Guardian November 08, 2016 11:48 UTC