Tesco Bank

sparkyspark

badger09 wrote: »

Has anyone, other than Gers (post 284) had a call back from Tesco fraud dept yet? I was told in the very early hours of Sunday that they would call me within 2 days.

Yes, got a call this lunchtime to tell me the affected account balance has been restored and offered me compensation payment for the inconvenience caused.

badger09

sparkyspark wrote: »

Yes, got a call this lunchtime to tell me the affected account balance has been restored and offered me compensation payment for the inconvenience caused.

Thanks, that's interesting. Did you initiate the conversation about compensation, or was it offered?

sparkyspark

badger09 wrote: »

Thanks, that's interesting. Did you initiate the conversation about compensation, or was it offered?

They initiated the conversation and offered £50, but after deliberation eventually they agreed to £100, which should show in my account in the next few days.

YorkshireBoy

sparkyspark wrote: »

They initiated the conversation and offered £50, but after deliberation eventually they agreed to £100

On each account hopefully?

which should show in my account in the next few days

They're doing it differently now then, because all ours, tagged "COMPENSATION PAYMENT", were in within 30 minutes yesterday...on all 4 accounts.

knack92

It could be the case that this was an extremely sophisticated attack using new ways to breach their systems but I think it's more likely that their are top to bottom failures at Tesco Bank.

Their first line has failed to secure their systems from attack which suggests a lack of controls and inadequate processes.

The second line of defence is to provide oversight and ensure the business is recognising and mitigating against risks. It seems Tesco Bank's operational risk function has failed to do this and hasn't recognised potential vulnerabilities.

The slow and inadequate response over the weekend suggests their business continuity plan was not robust enough to deal with such a disruption.

Their internal and external audits seem to have failed to notice any problems as have the regulators.

It will be interesting to know who is responsible. I wonder if Tesco hope that it's an inside job. At least that way some of it can be blamed on a bad apple and not 100% on system and procedural failures.

sparkyspark

YorkshireBoy wrote: »

On each account hopefully?They're doing it differently now then, because all ours, tagged "COMPENSATION PAYMENT", were in within 30 minutes yesterday...on all 4 accounts.

Only had one account affected, and yes I would have expected every account affected to be compensated the same if there had been more than one.

Checked my account just now and nothing showing as yet since lunchtime!

TheShape

YorkshireBoy wrote: »

On each account hopefully?They're doing it differently now then, because all ours, tagged "COMPENSATION PAYMENT", were in within 30 minutes yesterday...on all 4 accounts.

It's not often that I wish someone had stolen my money:(

YorkshireBoy

TheShape wrote: »

It's not often that I wish someone had stolen my money:(

Nobody stole my money, but they could have, according to Tesco.

scoot65

Interesting that some people have been offered compensation.

I managed to get through to Tesco Bank yesterday teatime, to inform them that I was acting upon their text telling me to get in touch because one of my accounts was afftected (£763 was missing).

I was told by the Tesco operative that my details had been passed to the Fraud Dept. and to expect a call from them soon.

No call received today.......... but checked my account this teatime and the missing £763 has been replaced.

Money returned but no offer of compensation.......

colin79666

Latest text received.

Further to our text on Monday morning, we wanted you to know that the issue has now been fully resolved. All services are available again, including paying with your debit card on the Internet. We can confirm that any fraudulent payments have been fully refunded and that your personal data was never compromised. Your existing card will continue to work as normal. We apologise again for the inconvenience and thank you for your patience and support.

Raises more questions than it answers as to how the fraud was pulled off then since they are now saying the card won't be replaced despite being told on Sunday it was blocked and a replacement would be sent...