​Cyber fraudsters take money out of 20,000 Tesco Bank accounts

​Cyber fraudsters take money out of 20,000 Tesco Bank accounts

CNBC reports on a major banking fraud in Europe, offering commentary from one of DataArt's top executives.

"The banking arm of Britain's biggest retailer Tesco was scrambling on Monday to deal with an online attack over the weekend on 40,000 customers' accounts, 20,000 of which had money removed.

Cliff Moyce, global head of financial services at DataArt, a network of technology consulting and software services firms, said reduced staffing levels over the weekend were likely to have been one of the reasons for the impact of the hack."The clever part was doing it over the weekend when banks are typically understaffed, and will respond more slowly," he said in a comment emailed to media."

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