It has been confirmed that around 20,000 Tesco Bank customers have been subjected to online criminal activity, in some cases resulting in money being withdrawn fraudulently, over the weekend.

The bank has now been forced to cease online transactions starting today (07/11).

Benny Higgins, Chief Executive of Tesco Bank, said: “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. This will only affect current account customers. While online transactions will not be available, current account customers will still be able to use their cards for cash withdrawals, chip and pin payments, and all existing bill payments and direct debits will continue as normal. We are working hard to resume normal service on current accounts as soon as possible.

We continue to work with the authorities and regulators to address the fraud and will keep our customers informed through regular updates on our website, twitter and direct communication.

We can reassure customers that any financial loss as a result of this activity will be resolved fully by Tesco Bank, and we are working to refund accounts that have been subject to fraud as soon as possible.”