View the article online at http://citywire.co.uk/money/article/a440937
Oops! FSA loses 20 laptops in just three years
City watchdog, the Financial Services Authority, has lost 41 laptops and Blackberries containing secure document and emails over the last three years.
City watchdog, the Financial Services Authority (FSA), has lost 41 laptops and Blackberries containing secure document and emails, in the past three years.
The regulator reported 10 laptops, seven Blackberries and two USB memory sticks were lost or stolen in this year alone. Staff at the financial regulator lost eight laptops and ten Blackberries in 2009 but only two laptops and two Blackberries were lost in the whole of 2008.
The FSA, which is funded entirely by the banks, financial advisers and other City institutions that it regulates, was only able to recover two of the 41 laptops, Blackberries or USBs lost or stolen from its staff in the past three years. The majority of devices were lost by FSA staff with only 11 stolen over the same period, according to a Freedom of Information request from Citywire.
It noted that all its laptops and memory sticks are encrypted while its Blackberry devices are password protected and the FSA claimed it blocked further access to secure information by remotely disabling the hardware.
Data security is a hot topic for the FSA which fined the Nationwide Building Society £980,000 in 2007 after a laptop containing the personal details of around 11 million customers was stolen from the home of an employee. Zurich Insurance was fined £2.27 million in August for the loss of computer tapes in South Africa containing the details of 46,000 customers.
An earlier Freedom of Information request revealed that the FSA had disciplined four staff in 2009 over the external loss of information.
The scale of losses at the FSA is dwarfed by the Ministry of Defence, where 220 laptops were lost and 120 stolen in the past two years. The MoD employed around 268,000 military and civilian staff compared to the FSA which now has 3,400 employees. More seriously, less than half of the lost MoD laptops were not encrypted, according to a Freedom of Information request from technology consultants Lewis Communications.
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by Daniel Grote on Mar 30, 2017 at 16:21