Tesco Bank has been fined £16.4m by the City watchdog over a 2016 cyber-attack which affected thousands of customers.
The attack left customers unable to make any online transactions for 48 hours and the bank was forced to pay out £2.5m to cover losses after cash was fraudulently removed from accounts.
The Financial Conduct Authority (FCA) said the bank had failed to exercise due skill, care and diligence in protecting its personal current account holders against a cyber-attack.
The…
