The banking arm of U.K. supermarket chain Tesco has suspended online payments for its 136,000 checking account customers following a spate of fraudulent transactions.
The bank suspended its payment service for all checking account customers after 40,000 experienced suspicious transactions, bank CEO Benny Higgins told BBC Radio 4 on Monday.
“Around half of them had money taken from the account,” he said.
The bank will bear any losses as a result of the fraudulent activity and customers are not at financial risk, he said.
But they might be inconvenienced until the bank has secured its systems.