HSBC data loss to be probed

The Financial Services Authority (FSA) has said that it will investigate the loss by HSBC of a disc containing details of some life insurance customers.

HSBC admitted that it had lost a disc with details relating to 370,000 customers but said the details were vitually useless to fraudsters.

"The data disk lost by HSBC contains no address or bank account details for any customer and would therefore be of very limited, if any, use to criminals," HSBC said in a statement.

An HSBC spokeswoman told Web User that the discs were password-protected and included names, life insurance cover levels and dates of birth.

HSBC was also keen to emphasise that there was no reason to suppose the disc was in the possession of criminals.

"There is nothing else that could in any way compromise a customer and there is no reason to suppose that the disk has fallen into the wrong hands," the spokeswoman said.

"Nonetheless, 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 underway. The FSA has been informed," she continued.

The case has echoes of HM Revenue and Custom's loss of two discs last November that contained the details of 25 million UK citizens. The discs have still not been found.

The FSA has the power to fine HSBC if it decides that proper procedures concerning the Data Protection Act were not followed.

www.hsbc.co.uk
www.fsa.gov.uk