http://www.zdnetasia.com/news/business/0,39044229,62056295,00.htm By Jo Best Special to ZDNet Asia July 23, 2009 Three HSBC companies have been hit with fines after the financial services watchdog found they weren't doing enough to protect customers' data. The Financial Services Authority (FSA) fined HSBC Life 1.6 million pounds (US$2.6 million), HSBC Actuaries 875,000 pounds (US$1.4 million) and HSBC Insurance Brokers 700,000 pounds (US$1.1 million)--making a total of 3.1 million pounds (US$5.1 million) in penalties between them. Due to the fact the three firms settled with the FSA, their fines were discounted by 30 percent--the original charges totaled 4.55 million pounds (US$7.47 million). The FSA handed down the fines after an investigation found customer data was sent without encryption to third parties and via couriers, and left in unlocked cabinets and shelves openly. Staff were also not given proper training over how to spot and deal with risks like identity theft, the FSA found. [...] _______________________________________________ Attend Black Hat USA, July 25-30 in Las Vegas, the world's premier technical event for ICT security experts. Network with 4,000+ delegates from 50 nations. Visit product displays by 30 top sponsors in a relaxed setting. http://www.blackhat.comReceived on Thu Jul 23 2009 - 00:45:41 PDT
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