Tesco UK has agreed to pay £ 16.4 m ( $ 21.45 m ) as part of a settlement with UK regulator the Financial Conduct Authority ( FCA ) relating to a 2016 cyber attack . Tesco claimed that the attack did not result in the loss or theft of customers ’ data , but did lead to money being debited from accounts and to the disruption of normal operations . Mark Steward, the executive director of enforcement and market oversight at the FCA, said: “The fine the FCA imposed on Tesco Bank today reflects the fact that the FCA has no tolerance for banks that fail to protect customers from foreseeable risks. The FCA stated that the fraud , which saw the cyber - attackers gain £ 2.26 m , exploited “ deficiencies ” in the bank ’s debit card design and financial crime controls . However , the FCA confirmed that , following the attack , the bank immediately took action to counter such deficiencies .
Tesco UK has agreed to pay £ 16.4 m ( $ 21.45 m ) as part of a settlement with UK regulator the Financial Conduct Authority ( FCA ) relating to a 2016 cyber attack . Tesco claimed that the attack did not result in the loss or theft of customers ’ data , but did lead to money being debited from accounts and to the disruption of normal operations . The FCA stated that the fraud , which saw the cyber - attackers gain £ 2.26 m , exploited “ deficiencies ” in the bank ’s debit card design and financial crime controls . However , the FCA confirmed that , following the attack , the bank immediately took action to counter such deficiencies .