in ITPRoportal in ITPRoportal
14 Nov 2016
Following the news that Tesco Bank suffered a cyber attack over the weekend with around 40,000 customers being affected, various industry professionals have offered their reaction and analysis.

Lee Munson, security researcher from commented:

“The concerted attack against some 20,000 Tesco Bank customers is the first time such a British financial institution has seemingly been targeted by online criminals, at least as far as we are aware. While we do not have any details yet, the fact that there were so many compromises at just one bank suggests to me that the grocer may have either been hacked by an online group, or even compromised from within.

“Fortunately for its customers, Tesco Bank appears to be taking the matter as seriously as it should, informing them of what is happening at an early opportunity, and taking control of the undoubted media fallout.

“The correct course of action is, of course, for customers to type their online banking URL directly into their browser and, once logged in, they should change their passwords, whether their account has been compromised or not. That said, British banking is still entirely secure from a consumer point of view – incidents such as this are extremely rare and, in Britain at least, all losses arising from unauthorised activity must be refunded immediately anyway. Not only that, the financial services industry is extremely proactive in protecting its assets.

“Tesco will, I’m sure, learn from the attack, and put in place the necessary technological, procedural or people changes required to mitigate the risk of it happening again.“

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