Tesco Bank Agrees To Settlement With FCA

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(RTTNews.com) - Tesco Bank announced that it has accepted FCA's decision notice regarding the sophisticated criminal fraud attack in November 2016. The Bank agreed to settlement of 16.4 million pounds. The Bank stated that the FCA recognised in the decision notice that, once senior management were aware, Tesco Bank responded quickly to stop the fraudulent transactions.

Gerry Mallon, Tesco Bank Chief Executive, said: "We are very sorry for the impact that this fraud attack had on our customers. Our priority is always the safety and security of our customers' accounts and we fully accept the FCA's notice. We have significantly enhanced our security measures to ensure that our customers' accounts have the highest levels of protection. I apologise to our customers for the inconvenience caused in 2016."

Read the original article on RTTNews (http://www.rttnews.com/2939545/tesco-bank-agrees-to-settlement-with-fca.aspx)

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This article appears in: Stocks , Insurance
Referenced Symbols: TSCDY

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