Summary
Life insurer Norwich Union was hit with a pounds 1.26m fine yesterday after a failure to protect customers' confidential details exposed almost seven million people to fraud. Norwich Union Life fined after fraudsters netted pounds 3.3m using public data such as names and dates of birth to gain customer-sensitive information from the company's call centres. The criminals used the details to cash in the policies of 74 customers.
Financial Services Authority enforcement director Margaret Cole said, "Norwich Union Life let down its customers by not taking reasonable steps to keep their personal and financial information safe and secure."See the full content of this document
Extract
Norwich Union Fined for Failing to Protect Customers
The FSA said fraudsters had in some...
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