Tesco Bank gets fined over cyber-hacking
BRITAIN’S Tesco Bank has been fined £16.4 million ($21.4 million) for failing to protect customers during a 2016 cyber attack, regulators said Monday. The supermarket’s bank division failed “to exercise due skill, care and diligence in protecting its personal current account holders against a cyber attack”, the Financial Conduct Authority said in a statement. The attackers netted £2.26 million during the 48-hour incident in November 2016, according to the watchdog. The attack “exploited deficiencies” in the design of Tesco Bank’s debit card, as well as its financial crime controls and financial crime operations team, it said. Tesco Bank customers were therefore left vulnerable to what the regulator described as a largely avoidable incident.