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[follow-up] UK: Nationwide fined almost ?1m over theft
From: Dissent <Dissent () pogowasright org>
Date: Wed, 14 Feb 2007 09:24:35 -0500
http://www.channel4.com/news/content/news-storypage.jsp?id=27099299 Nationwide has been fined almost £1 million after the theft of an employee's laptop computer exposed security flaws. The Financial Services Authority (FSA) fined Nationwide - the world's largest building society - £980,000 for not having adequate information security procedures and controls in place. The theft from the employee's home in August last year potentially exposed the society's 11 million customers to an increased risk of financial crime, the FSA said. The FSA said the Nationwide was not aware that the laptop contained confidential customer information and did not start an investigation until three weeks after the robbery as the employee then went on holiday. Nationwide declined to say how many account details were on the laptop but said there had been no loss of money from any account and the laptop did not contain PINs, passwords, account balance information or memorable data relating to any customers. The fine imposed on Nationwide could have been as high as £1.4 million, but the building society qualified for a 30 per cent discount by agreeing to settle early. [...] -- Main site: http://www.pogowasright.org Main RSS feed: http://www.pogowasright.org/backend/pogowasright.rss Breaches RSS feed: http://www.pogowasright.org/backend/breaches.rss _______________________________________________ Dataloss Mailing List (dataloss () attrition org) http://attrition.org/dataloss Tracking more than 148 million compromised records in 573 incidents over 7 years.
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- [follow-up] UK: Nationwide fined almost ?1m over theft Dissent (Feb 14)