Tesco Bank Halts Web Trades as Money Taken From 20,000 Accounts

MSN Money picks up the news from England, where Tesco Bank, the lending arm of the U.K.’s biggest grocer, suspended online transactions after about 20,000 customers had money fraudulently taken from their accounts.

Cliff Moyce, global head of the Finance Practice at DataArt commented that

"The crime was committed at a time “when banks are typically understaffed and will respond more slowly.”

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