Thursday, April 12, 2007
Data security - now is the time for a UK disclosure law
There has been another security breach involving the theft of customer data, this time by the Halifax Bank, which has admitted that documents stolen from one of its employees contained data on 13,000 mortgage customers. However, unlike most of the other breaches that come to light, this case involved printed documents taken when a briefcase was stolen.
'Content There are two issues here. The first is the fact that the documents stolen were in a paper format and therefore could not be protected by technologies such as encryption, and the second is the fact that the Halifax did not need to disclose that the theft had occurred in the first place, although the company did notify the UK Financial Services Authority (FSA) and the police before writing to affected customers.
This is the latest of a string of thefts involving sensitive customer data in the UK, although there are many more instances that we are never made aware of. In another example, earlier this year, Nationwide Building Society was fined GBP980,000 by the FSA over the theft of a laptop containing customer data.
See full Article.