Tesco Bank blocks some customers’ cards after apparent mass fraud targeting its accounts

ITV News reports:

Tesco Bank has blocked some customers’ cards after fraudsters seemingly targeted the banks customers.

Thousands of accounts were reportedly affected, with many people taking to social media to alert the bank to suspicious activity.

One man tweeted his available balance had dropped by £700 without him making a transaction while another said the disruption had left her “unable to feed my kids in school tomorrow”.

Read more on ITV News.

In their coverage, BBC reports that “less than 10,000” of the bank’s customers are affected and that they had all been sent alerts to notify them.  So far, none of the news outlets reporting on this have indicated how the fraud occurred.

Update Nov. 7:  The estimates of the number affected are climbing. ITPro now reports:

Tesco Bank has blocked online transactions using current accounts after 20,000 customers had money fraudulently withdrawn over the weekend.

The bank, owned entirely by the shopping chain Tesco, revealed over 40,000 accounts had seen suspicious activity since Saturday, of which half had money stolen.

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