data breaches

HSBC was fined £3m by the Financial Services Authority for failing to properly look after its customers' information and private data, as such breaches led to at least two losses of customer data.

The FSA was probing the bank and found unencrypted customer details on open shelves and unlocked cabinets. It was also uncovered that clients’ details were sent through the post or couriers to third parties, moreover employees were not trained in dealing with risks related to identity theft.