Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a733073

Barclays in new scandal over 27,000 'stolen & sold' client files

by Dylan Lobo on Feb 10, 2014 at 07:52

Barclays in new scandal over 27,000 'stolen & sold' client files

Barclays is embroiled on a new scandal on claims highly sensitive data on thousands of clients was sold to unscrupulous brokers.

According to the Mail on Sunday, the confidential information related to customers within its financial planning division, which the bank ceased to operate in 2011.

In what has been described as the worst case data loss at a UK High Street Bank, the information included customers’ earnings, savings, mortgages, health issues and insurance policies, along with passport and National Insurance details.

The Mail said an anonymous whistleblower exposed the leak by handing the newspaper a memory stick containing files on around 2,000 customers. While it’s not clear how the records were stolen, the informer claimed the stick was a sample of up to 27,000 files, which he said could fetch £50 per file.

The whistleblower told the paper: 'I was given the Barclays "leads" after they had been "rinsed" - or used up - and told to sell them to other brokers.

'In the end, I didn’t do this because I thought it was wrong - and by that time I’d had enough of the whole business.'

In statement published Barclays said: ‘We are grateful to The Mail on Sunday for bringing this to our attention and we contacted the Information Commissioner and other regulators on Friday as soon as we were made aware.

'Our initial investigations suggest this is isolated to customers linked to our Barclays Financial Planning business, which we ceased in 2011. Based on what we've seen, this appears to be data from 2008 or earlier.  

It added: ‘We will take all necessary steps to contact and advise those customers as soon as possible so that they can also ensure the safety of their personal data.

‘Protecting customers’ data is a top priority and we take this issue extremely seriously. This appears to be criminal action and we will co-operate with the authorities on pursuing the perpetrator.

Sign in / register to view full article on one page

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Sponsored Video: Barings on investing in Frontier Markets


From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.

More about this:

Look up the shares

  • Barclays PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

What others are saying

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet