jm + pan-numbers   1

This is how cyber attackers stole £2.26m from Tesco Bank customers | ZDNet
What a shitshow.
Poor design of Tesco Bank debit cards played a significant role in creating security vulnerabilities that led to thousands of customers having their accounts emptied. One of these involved the PAN numbers -- the 16-digit card number sequence used to identify all debit cards.

Tesco Bank inadvertently issued debit cards with sequential PAN numbers. This increased the likelihood that the attackers would find the next PAN number in the sequence.

It took 21 hours after the attack began before Tesco Bank's Fraud Strategy Team was informed about the incident.

Only after what the FCA describes as a "series of errors" -- including Tesco Bank's Financial Crime Operations Team sending an email to the wrong address, instead of making a phone call as procedure requires -- was the fraud team made aware of the attack.

In all that time, nothing had been done to stop the attacks, with fraudulent transactions continuing to siphon money from accounts as the bank received more and more calls from worried customers.
tesco  fail  tesco-bank  banking  pan-numbers  debit-cards  security  fraud  uk 
15 days ago by jm

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