HM Revenue and Customs have lost the confidential personal details of 25 million British people, leaving nearly half the country’s population unnecessarily vulnerable to fraud . The data was held on two unencrypted CDs which have been lost in the post, and is yet to be traced. Most worryingly for customers and banks alike is that the data lost includes bank details, significantly increasing the potential cost likely to be incurred as a result of the mix up.
Given the huge numbers of people affected by the error, the government is being accused of making the most serious breach in banking history. Although customers are reportedly ready to change accounts to ensure the bank details lost are of no value, any losses incurred as a result must be compensated by banks, who are undoubtedly livid at the cost they are going to have to face.
Government Banking Error Leaves Brits Vulnerable
Government Banking Error Leaves Brits Vulnerable
Wed, 28 Nov 2007
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