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Zurich Insurance fined £2.3m over customers' data loss
From: security curmudgeon <jericho () attrition org>
Date: Tue, 24 Aug 2010 13:51:23 -0500 (CDT)
http://www.bbc.co.uk/news/business-11070217 24 August 2010 Last updated at 09:43 ET Zurich Insurance fined £2.3m over customers' data lossThe UK operation of Zurich Insurance has been fined £2.27m by the Financial Services Authority (FSA) for losing personal details of 46,000 customers.
It is the highest fine levied on a single firm for data security failings.Margaret Cole, the FSA's director of enforcement and financial crime, said: "Zurich UK let its customers down badly."
Stephen Lewis, chief executive of Zurich UK, said: "This incident was unacceptable."
The data on policyholders, including in some cases bank account and credit card information, went missing in August 2008.
However, Zurich did not become aware of the loss until a year later, when it then began notifying customers.
The information went missing during a routine transfer to a data storage centre in South Africa.
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