UPDATE The criminals behind a Tesco Bank attack used NFC mobile phones to launder money stolen during a theft that saw about 9,000 customers affected by fraudulent transactions worth an estimated £2.5m (US$3.1m), according to a report in The Sunday Times.
“The thieves used data stolen from the British lender to set up contactless payment accounts on smartphones,” the report says. “They bought thousands of low-priced goods from stores, swiping their mobile phones at the tills.
“Many of the fraudulent transactions are understood to have been made in American electricals retailer Best Buy.”
Refund and reassure
In a statement, Tesco Bank has confirmed normal service has resumed following a temporary suspension of online transactions from current accounts, adding that “personal data was not compromised” as a result of fraud.
“We’ve now refunded all customer accounts affected by fraud and lifted the suspension of online debit transactions so that customers can use their accounts as normal,” says Tesco Bank CEO Benny Higgins. “We’d also like to reassure our customers that none of their personal data has been compromised.”
Tesco Bank were “unable to provide any further information” when contacted by NFC World, “given the criminal nature of the activity and investigation”.