Skip to content
City PM
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Opinion
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Opinion
Tuesday 08 November 2016 3:13 pm

National Crime Agency launches criminal investigation over Tesco Bank fraud attack

By: Caitlin Morrison

Add as a preferred source on Google

The National Crime Agency (NCA) has launched a criminal investigation into the recent fraud attack on Tesco Bank.

The National Cyber Security Centre (NCSC) said it was working with the NCA and Tesco Bank, as well as other groups, and said it was "providing direct assistance to the company at their request, including on-site assistance".

Tesco Bank uncovered a massive fraud attack on its current account customers over the weekend, which saw money stolen from around 20,000 accounts.

The challenger bank was forced to halt online transactions yesterday as it moved to deal with the incident. 

Read more: Here's everything you need to know about the Tesco Bank fraud attack

"In the case of cyber related incidents, it can, on certain occasions, take a significant period of time to understand the incident given the technical complexities involved," the NCSC said.

"So the story will emerge over time. During this period it is vital that nothing is said publicly that could interfere with the criminal investigation.

"Given the investigation thus far and the evidence at hand, the National Cyber Security Centre is unaware of any wider threat to the UK banking sector connected with this incident."

Treasury select committee chair Andrew Tyrie blasted banks over their cyber security arrangements in the wake of the fraud attack.

“This is just the latest in a long list of failures and breaches of banking IT systems, exposing many thousands of customers to uncertainty and disruption," he said. "We can't carry on like this.” 

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Banking
  • Business
  • Tech

Trending Articles

  • Top Burnham adviser calls for capital gains and inheritance tax hikes

  • A meeting with the breakfast king of Mayfair

  • As it happened: Stocks jump on defence and metals boost; Oil on track to shed a fifth on US-Iran peace hopes

  • Clarkson’s Farm and why businesses must stop blaming the weather

  • BT tops FTSE 100 after finding new home for international business with Verizon joint venture

More from City PM

  • Food inflation: First signs of energy cost surge feed through to supermarket shelves as discounts fail to stem price growth

    Economics
    Tesco supermarket exterior showcasing brand signage and entrance with shoppers entering and exiting the store.
  • ThetaRay Gamifies Financial Defense at Money20/20 Europe with a Compliance Twist on “Where’s Waldo”

    Business Wire
  • HSBC coughs up $25m over Australian scam failures

    Banking
    HSBC's Canary Wharf office.
  • Tesco fuel sales drag up slowing growth

    Retail
    Tesco shares have reacted positively to the retailer's latest update.
  • Fraud losses surge as scammers use AI to manipulate victims

    Personal Finance
    Executives argue the measures threaten firms’ business models, particularly smaller fintechs more relatively exposed to fraud and with less capital to cover mandatory reimbursement. (Photo by Artur Widak/NurPhoto via Getty Images)
  • Government aid ‘worth £28bn’ handed to terrorists, criminals and hostile states

    Politics
    Whitehall and Westminster
  • Tech Week proves London can build the future

    Opinion
    Attendees networking at London Tech Week 2026 showcasing innovation and technology advancements
  • City launches new Digital ID framework against AI fraud

    Tech
    The City PM Awards

City PM — European politics, business and analysis.

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Topics

  • Business
  • Markets
  • AI
  • Technology
  • Opinion
  • Energy

More

  • Politics
  • Economics
  • Fintech
  • Legal
  • Sport
  • Life

Company

  • About City PM
  • Editorial Policy
  • Corrections
  • Contact
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
© 2026 City PM · Published by CityPM Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
About · Editorial Policy · Corrections · Contact · Privacy