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Sep 1, 2009

HSBC fined for not protecting customer confidentiality

Info4security published news about HSBC's privacy lapses:

"The Financial Services Authority (FSA) has fined three HSBC firms over £3 million for not having adequate systems and controls in place to protect their customers' confidential details from being lost or stolen ... During its investigation into the firms' data security systems and controls, the Financial Services Authority (FSA) found that large amounts of unencrypted customer details had been sent via post or courier to third parties. Confidential information about customers was also left on open shelves or in unlocked cabinets, and could easily have been lost or stolen. In addition, it was noted that members of staff had not been given sufficient training on how to identify and manage risks such as identity theft."

Read the whole item here.