Tesco Bank Fine Could Mean Double Trouble For Breached Companies

The UK’s financial regulator has handed down a £16.4m fine to Tesco Bank for its failings in relation to a cyberattack in 2016, bringing to the fore questions of regulatory jurisdiction in a post-General Data Protection Regulation (GDPR) world.

The Financial Conduct Authority (FCA) announced on Monday that Tesco Bank had been penalised “for failing to exercise due skill, care and diligence in protecting its personal current account holders against a cybe-attack” following the 2016 incident.

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