Lost HSBC data includes life insurance

Tue, 08 Apr 2008

Financial services giant HSBC has publicly apologised to around 370,000 customers who hold insurance policies with the bank after the bank lost a computer disk containing personal information. The disk was thought to include levels of life insurance cover .

HSBC were clear to maintain that no sensitive information was held on the disk, and that all signs indicate that it had not fallen into the wrong hands. However, the bank could have to pay a fine to the Financial Services Authority to make an example about data security .

The FSA are thought to be particularly concerned about this issue at the moment, with a report pending. The disk was lost as it was sent to life insurance company Swiss Re, who reinsure the risk on the policies .

The bank reportedly apologised: "HSBC would like to apologise to its life assurance customers for any concern this may cause them. Each customer will be contacted shortly and a thorough investigation into this matter is under way."
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