HSBC firms fined after losing customer details

The City of London watchdog has hit three HSBC firms with fines totalling £3.2m (€3.69m) after losing the details of thousands of customers in the post and putting them at risk of identity fraud.

HSBC Life lost an unencrypted CD with the details of 180,000 policy holders, while HSBC Actuaries lost a disc with data on almost 2,000 pension scheme members, the Financial Services Authority (FSA) said.

HSBC Insurance was also fined by the FSA.

The regulator’s enforcement director Margaret Cole said: “All three firms failed their customers by being careless with personal details which could have ended up in the hands of criminals.”