HSBC Data Loss £3m Fine!

HSBC have had three parts of their group fined a total of £3million for insufficient data security.  Various parts of the huge banking and financial services group lost data and they were found not to have controlled data with sufficient care.

This high profile case of data security further highlights the risks individuals and organisations face from use of personal data.  In the case of HSBC it was life insurance and other bits of personal data that leaked and whilst no widespread harm occured from the leak, the business has suffered a significant fine for its weaknesses.

Identity theft products are now widely available on the market and data security remains a topical issue in the UK.