Updated: 07/11/16 : 07:54:57Printable Version
Tesco Bank customers will not be able to complete online transactions throughout Monday after a hacking attack.
The bank's chief executive Benny Higgins said the move was an emergency security measure.
Mr Higgins did not say if the online transactions freeze would last beyond Monday.
Some current accounts were subjected to "online criminal activity" over the weekend, with "some cases" resulting in money being withdrawn fraudulently, he said. Tesco Bank can confirm that, over the weekend, some of its customer current accounts have been subject to online criminal activity, in some cases resulting in money being withdrawn fraudulently.
We apologise for the worry and inconvenience that this has caused for customers, and can only stress that we are taking every step to protect our customers' accounts.
That is why, as a precautionary measure, we have taken the decision today to temporarily stop online transactions from current accounts.
– Tesco bank chief executive, Benny Higgins
Mr Higgins said customers affected by the block will still be able to withdraw cash and use other services.
He also sought to reassure customers that Tesco Bank will "ensure they do not lose out financially" and accounts will be refunded "as soon as possible".
The Financial Conduct Authority says banks must refund unauthorised payments immediately, unless they have evidence that the customer was at fault or the payment was more than 13 months ago.
The bank, which has 7.8 million customer accounts, is working with authorities and regulators to address the circumstances surrounding the security breach