HSBC fined for personal data loss

Three HSBC firms have been fined more than £3m for failing to adequately protect customers’ confidential details from being lost or stolen.

The Financial Services Authority (FSA) said customer data had been lost in the post on two occasions.

The firms concerned are HSBC Life UK, HSBC Actuaries and Consultants, and HSBC Insurance Brokers.
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The FSA identified two instances where unencrypted data had been lost in the post.

In April 2007, HSBC Actuaries lost a floppy disk containing the personal information of 1,917 pension scheme members, including addresses, dates of birth and national insurance numbers.

And in February 2008, HSBC Life lost a CD containing the details of 180,000 policyholders.

“All three firms failed their customers by being careless with personal details which could have ended up in the hands of criminals,” said Margaret Cole, director of enforcement at the FSA.

Read more on BBC.

Related – FSA Press Release

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