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

  • Exclusive: Reynolds never met Thames Water investors before rejecting rescue deal

  • UK banks’ digital ID bid is a game of optics – and the odds are not in their favour

  • Businesses want action over changes in government machinery, Burnham told

  • Nscale and ElevenLabs power £41bn AI boom as Britain cements unicorn crown

  • Blackline Safety Announces Closing of Going Private Transaction with Francisco Partners

More from City PM

  • Wise shares plummet as money transfer firm faces fraud investigation

    Fintech
    Wise logo with downward trending stock chart, highlighting fintechs share decline amid Belgium fraud investigation
  • Good policing is the unsung pillar of growth

    Opinion
    Breaking news coverage with detailed insights and analysis, featuring key figures and dynamic visuals from the event.
  • 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.
  • Huge change to Tesco meal deal as Corona and Heineken added

    Life&Style
    Tesco meal deal featuring Heineken and Corona beer bottles displayed on a store shelf
  • Supermarket inflation: Falling oil prices help keep costs down at the till 

    Economics
    Tesco supermarket exterior showcasing brand signage and entrance with shoppers entering and exiting the store.
  • Tesco boss Ken Murphy took £1m pay rise in grocer’s bumper year

    Retail
    Ken Murphy delivering a keynote speech at a business conference, wearing a suit and gesturing at a presentation screen.

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