Tesco Bank’s chief executive has blamed “a systematic, sophisticated attack” for the money taken from 20,000 of its customer accounts.
Benny Higgins said the bank knew “exactly” what the attack was, but could not say more because it was part of a criminal investigation.
He said all affected customers would be refunded by the end of Tuesday.
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Time For Truth: (BBC News) – Tesco Bank blames 'systematic sophisticated attack' for account losses
The chief executive of Tesco, Dave Lewis, has said retailers face a “potentially lethal cocktail” as profits slump but costs rise because of business rates and the national living wage.
Lewis said jobs were on the line in an industry that employs three million people, with the possibility that shops could close and prices on the high street could increase to pay for the extra costs.
The average woman buys, uses and throws away 11,000 tampons during her lifetime. In my local Tesco, a box of 20 regular Tampax costs £3.14. This means that someone earning minimum wage must work approximately 38 full working days to pay for her lifetime’s supply.
Brushing over the fact that many people also use sanitary towels at the same time as tampons, five per cent of this cost is tax. Both are taxed as luxury, non-essential items – you are, quite literally, being tolled for having a uterus.
The Financial Reporting Council (FRC) has announced an inquiry into Tesco’s accounts for 2012, 2013 and 2014.
The FRC is an independent disciplinary body for UK accountants and actuaries.
A 7-year-old girl has taught Tesco a lesson, after a photo of her looking disgruntled next to an advert for a superhero clock captioned: “fun gifts for boys” saw the supermarket agree to remove the sign from its stores.
Karen Cole tweeted a photo of her daughter, Maggie, next to a Marvel Comics alarm clock at the Tower Park branch of Tesco in Poole, Dorset, three days ago. Since then, it has been retweeted over 10,000 times.