Tesco Bank has been fined £16.4m over failings regarding a cyber attack in 2016 that led to over £2m being withdrawn from customers’ accounts. The FCA criticised Tesco Bank’s response to the attack saying that it was avoidable and Tesco Bank did not ‘exercise due skill, care and diligence in protecting its personal current account holders.’
The fraudsters exploited Tesco Bank’s debit card design and financial crime controls.
CyDesk can help your organisation not only prevent cyber attacks and respond accordingly when they do occur, but also monitor your compliance risk.
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