Cyber bank robbery at British bank


As the English saying goes, remember, remember the 5th of November!

Tesco bank will, that's the date they experienced Britain's first cyber bank robbery. Customer funds were stolen by a group who were able to organise the theft from thousands of accounts in just a couple of hours. Described as "unprecedented" by the head of Britain's financial regulator. In response, the bank resorted to drastic emergency measures to limit the damage including suspending online transactions.

Cyber security experts said that the cyber attack was the most significant ever on a UK bank leading to fears a criminal network or even a foreign government were responsible and the bank enlisted the help of Britain’s newly established National Cyber Security Centre and National Crime Agency to assist with its investigation. This incident highlights the need for all banks to work together on cyber security in the interests of their customers and the financial system as a whole.

In October 2018, the UK's Financial Conduct Authority (FCA) fined the bank £16.4 million over the “largely avoidable” cyber attack.

Free consultation

Want to discuss this case? We're offering a FREE 20 minute phone consultation with our analysts to discuss this case and the implications it has for your organisation. Just select the time and date that works for you:


  • Tesco Bank
  • Tesco Personal Finance plc
  • Tesco PLC

We've done the analysis so you can make the decisions

When purchasing a minimum of 5 Case Studies
$699.99 if buying less than 5.

  • Detailed cause & effect analysis
  • Lessons learnt catalogued
  • Preventive controls extracted
Add to Cart
Heads up! Want to try before you buy? You can download our FREE demo case study here