Cutting your costs, fighting your corner
On the news that Tesco Bank customers could be affected by online fraud, Sally Francis, senior writer at MoneySavingExpert.com, said:
“Tesco Bank has suffered a hacking attack at the hands of fraudsters, affecting about 40,000 of its current account customers who it says have had their data compromised. Of those, about 20,000 have had funds taken from their accounts.
“Tesco did text affected customers over the weekend, but even if you didn’t get a text, check your account now. If you spot any suspicious transactions, contact the bank immediately. Customers have told us that they’re struggling to contact customer services due to the volume of calls, but Tesco is responding promptly on Twitter.
“Any losses incurred as a result of this hack should be covered by Tesco Bank according to guidelines from the Financial Conduct Authority, but the bank’s not yet said how quickly it is able to refund customers.
“The guidelines state that you have up to 13 months to claim back fraudulent payments, so ensure you check your accounts regularly, whichever institution you bank with.
“Attacks of this scale could happen to any bank but regular monitoring, strong passwords using a mixture of letters, symbols and numbers, and not keeping sensitive data in an unsecure way could help protect you.”