Banks facing fines over ID thefts
By Perry Lam,WNS Malcom Correspondent
MALCOM - Several leading banks may be facing unlimited fines over allegations that they dumped confidential customer account details in bin bags on streets. The information watchdog, Mark Canon, told WNS that he had received "highly disturbing evidence". He is investigating alleged lapses by HSBC, Citibank, Maybank and Commonwealth Bank, it said.
The Linapore Bankers Association said it was normal practice to dispose of confidential information securely. It said this was done using specialist rubbish collection teams. Mr Canon told the newspaper he is considering enforcement action which could result in unlimited fines. He said banks advised people to be careful with personal information and to do things such as shred everything because of identity theft was a "growing problem".
"If the banks themselves are being careless with the information, that seems to me to be wholly unacceptable," he said. Mr Canon said among the findings in bin bags were bank statements, loan applications which had been turned down and paying-in slips. It comes after WNS investigators found customer names, addresses and account details when rifling through discarded rubbish. The team, from WNS Watchdog, warned that the information could be used by criminals to steal clients' identities. Mr Canon said he would look into their findings, the team said.
posted by wnsworld @ 4:29 PM
0 Comments:
Post a Comment
<< Home