Boasts preceeded hack of Tesco Bank, report

News by Greg Masters

After a Tesco Bank breach exposed data of 9,000 accounts and the theft of $3.1 million, a cyber-security firm uncovered boasts on underground forums from two months ago that the company was an easy target.

Discussions on underground forums were boasting about how easy a target it was two months before UK's Tesco Bank suffered a breach that exposed data of 9,000 accounts and the theft of £2.5 million ($3.1 million), according to Computer Business Review.

While investigating the breach, cyber-security firm Cyberint uncovered discussions on Dark Web forums from two months previous to the incursion claiming the British retail bank – a joint venture between The Royal Bank of Scotland and UK supermarket chain Tesco – was a "cash milking cow" and that it was "easy to cash out." Cyberint said the discussions concerned a tool that tested thousands of login and password combinations to grant access to Tesco accounts. 

Following a suspension of all online debit transactions to prevent further criminal activity, normal service was restored on 8 November. The bank reimbursed all customer accounts affected and claimed that personal data was not impacted.

The bank is cooperating with authorities, including the National Crime Agency.

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