Linked In
Twitter
Credit Strategy
Search
Search

Insurance group fined for losing customers’ bank details

A London-based insurance group has been fined £150,000 by the Information Commissioner’s Office (ICO) after the loss of nearly 60,000 customers’ financial data.

LinkedIn Twitter Google+

Royal & Sun Alliance Insurance failed to keep customers’ information safe by not taking appropriate measures to prevent theft at its offices in west Sussex.

 

A hard drive was stolen between May and July 2015 containing 59,592 customers’ names, addresses and bank account details including account numbers and sort codes.

 

The device, not yet recovered, also held limited credit card details of 20,000 customers.

 

The ICO enforcement officers found the device was stolen from company premises either by a member of staff or a contractor.

 

It said the information on the hard drive was not encrypted and the room it was stored in did not have CCTV.

 

The ICO said the company also failed to restrict access to the room to essential staff and contractors.

 

The fine must be paid by February 8. If it is paid in full by February 7 the fine will be reduced by 20 percent to £120,000 unless the company appeals.

 

Steve Eckersley, head of enforcement at the ICO, said: “Customers put their trust in companies to keep their information safe, particularly financial information.

“When we looked at this case we discovered an organisation that simply didn’t take adequate precautions to protect customer information.

 

“Its failure to do so has caused anxiety for its customers not to mention potential fraud issues.”

LinkedIn Twitter Google+
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.

You may also like

Lloyds repays taxpayers for bailout - with £1m extra

Lloyds repays taxpayers for bailout - with £1m extra

Lloyds Banking Group has repaid taxpayers more than the amount used to bail out the bank during the financial crisis in 2008
Chief executive of new super trade body is announced

Chief executive of new super trade body is announced

Stephen Jones has been appointed as chief executive of the new financial trade body UK Finance, set to launch this summer
Union directors banned for breaking “all rules in the book”

Union directors banned for breaking “all rules in the book”

Directors of a credit union, which went into administration owing more than £7m to creditors, have been banned for a collective 21 years
Credit Strategy

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
© Copyright Shard Financial Media Ltd