Tesco calls in police after Clubcard points go missing

Supermarket giant Tesco has had to call in police after discovering that hundrends of pounds-worth of vouchers have gone missing from its online Clubcard accounts.

The company believes that dozens of Clubcard accounts may have been targeted by online fraudsters after a number of customers complained that they have lost accumulated vouchers or had been unable to log in.

A spokeswoman for Tesco said: "We have launched a thorough investigation into a small number of incidents and referred the matter to the police.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

"In the meantime, we'd like to ask any customers who believe they're affected to contact us directly so that we can make sure their accounts are up to date."

It certainly wasn't all bad news for Tesco though, as JP Morgan initiated its coverage of the stock with a target price of 425p and an overweight rating.

NR