Regulator considers fining Tesco Bank $39 million over cyber attack

Posted On: Sep. 25, 2018 5:47 AM CST

U.K.'s Financial Conduct Authority is considering fining conglomerate Tesco P.L.C.'s banking unit more than £30 million ($39 million) for failing to prevent a 2016 cyber attack, Sky News reported. Hackers had breached Tesco Bank's services in November 2016 forcing the lender to suspend all online transactions temporarily.