Tesco Bank fined £16.4m over cyber attack.

Tesco Bank has been fined £16.4m by the City watchdog over a cyber attack on the lender two years ago in the first penalty of its kind.

The Financial Conduct Authority (FCA) said deficiencies at the bank had left account holders vulnerable to a "largely avoidable" incident that netted cyber criminals £2.26m and that its response was "too little, too late".

It is the first time the FCA has issued a fine for a cyber-related incident.

Full story at Sky News.