Friday, August 9, 2013

Small Privacy Breach = Big Fine for Bank

A small privacy breach involving just 32 customers resulted in a fine of £75,000 ($115,938 USD) for a British bank. That comes to over £2,300 ($3,600 USD) per customer affected.

The Information Commissioner's Office (ICO), which issued the fine, described the breach of privacy as "unforgivable" and "mistakes of this kind compromised sensitive data at a time when identity fraud is on the rise."

"Today's penalty reflects the seriousness of this case." - Stephen Eckersley, Head of Enforcement, Information Commissioner's Office (ICO)
The Bank of Scotland apologized for the breach, saying that security was a "key priority" and that it was reviewing its processes in light of the ICO’s verdict.
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Sources:
(a) Bank of Scotland fined for persistent privacy breach - www.which4.co.uk, 08/06/2013

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