Banking woes can hit anyone in every country at any given time. Customers of Esto Bank have come to realize that fact, although there are dire consequences. Online payments for all account holders have been halted, and over 20,000 accounts are affected by an unspecified theft. Things aren’t looking all that good for these UK bank customers, to say the least.
Not having access to banking services is bad enough, but losing money is never a fun experience. Over 20,000 Tesco Bank users have fallen victim to bank theft, although specifics remain unknown. Moreover, nearly 40,000 users saw suspicious activity related to their banking accounts over the past few days.
While Tesco Bank is hopeful they can refund customers within the next few days, the incident raises a lot of questions. Affected customers can still use their cards for ATM withdrawals or regular payments, though. Online banking is accessible, but online transactions are prohibited until the matter is resolved.
Not A Great Weekend For Tesco Bank Customers
Money being withdrawn fraudulently from so many different accounts is quite worrisome. Customers started complaining about this strange activity over the weekend. Additionally, several Tesco Bank customers had their payment cards blocked for no apparent reason. It appears someone infiltrated core bank systems and wreaked all kinds of financial havoc.
Customers who lost money are reporting vast sums being withdrawn from their bank account. One user lost £600 during this attack, which is quite a lot of funds. Tesco was unable to offer him emergency funds but was willing to add £25 to his account total. Some users even had multiple accounts affected at the same times.
It is of the utmost importance Tesco bank comes clean regarding this hack. Fraudsters somehow obtained critical customer information and abused it on a large scale. Not disclosing specific details regarding this attack will reduce the trust between company and consumers. Speculation is running wild, as some people wonder if this was an inside job by a Tesco Bank employee.
According to the Financial Conduct Authority, Tesco Bank needs to refund unauthorized payments immediately. They will also have to pay for any charges or interest added to user accounts as a result of fraud. This news is another great example of how consumers need to control their own money at all times, rather than rely on third-party service providers.