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Daily Dashboard | FCA preparing to fine Tesco Bank record amount over 2016 cyberattack Related reading: US House subcommittee kicks off draft American Privacy Rights Act consideration

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The U.K. Financial Conduct Authority is planning to fine Tesco Bank as much as 30 million GBP over the cyberattack it suffered in 2016, the Financial Times reports. Tesco was forced to repay 2.5 million GBP in losses to 9,000 customers following the incident. The FCA investigated whether the bank left customers exposed to fraud due to its use of sequential debit card numbers. Tesco and the FCA are currently negotiating the penalty, which could be the largest fine the agency has ever administered for a cyberattack. A person involved with the discussion told the Financial Times the bank hopes the penalty falls to under 20 million GBP. (Registration may be required to access this story.) 
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