UK bank suspends online payments after fraud hits 20,000 accounts

The banking arm of U.K. supermarket chain Tesco has suspended online payments for its 136,000 checking account customers following a spate of fraudulent transactions.

The bank suspended its payment service for all checking account customers after 40,000 experienced suspicious transactions, bank CEO Benny Higgins told BBC Radio 4 on Monday.

“Around half of them had money taken from the account,” he said.

The bank will bear any losses as a result of the fraudulent activity and customers are not at financial risk, he said.

But they might be inconvenienced until the bank has secured its systems.

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