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FSA slams banks' data loss

The Financial Services Authority (FSA) has slammed banks for not doing enough to protect their customers from identity thieves.

Firms have been found not to encrypt laptops, causing the FSA to warn that enforcement action may be needed, reports ComputerWorld.

A review of systems has shown that some middle and large-sized companies are still sending unencrypted data through unregistered mail and unsecured connections.

The FSA said: "It is not appropriate for customer data to be taken offsite on laptops or other portable devices which are not encrypted."

In addition, the City watchdog revealed that just under a third of all financial crime cases dealt with by them are data loss cases, amounting to 56 incidents.

Many firms also place too much emphasis on data security, but overlook the risk their staff represent.

A survey recently conducted by IT Governance found staff are not being trained correctly on how to handle personal data.

Learn more about managing endpoint security risks

About Centennial Software / FrontRange Solutions

Centennial Software was acquired by FrontRange Solutions (www.frontrange.com) in April 2008. FrontRange Solutions develops Service Management, IT Infrastructure and Customer Relationship Management solutions that scale with the needs of mid-sized and distributed enterprises. The company – through its FrontRange, HEAT, GoldMine, Enteo and Centennial brands – offers a unique portfolio that has been chosen by more than 150,000 organizations worldwide to help improve the effectiveness and reduce the cost of interacting with external and internal customers.

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