FSA releases report on data security for FS

FSA releases report on protection of consumer data within Financial Services industry. This review was carried out by FCID (Financial Crime and Intelligence Division) of FSA – In summary, it highlights the need for improvement in current practices deployed in the financial services industry for protecting consumer data. It also highlights and acknowledges a few good practices currently in place.

Main findings were around following themes:
– Governance
– Training and Awareness
– Staff recruitment and vetting
– Controls
– Physical Security
– Disposing of customer data
– Managing third-party suppliers; and
– Internal audit and compliance.

Click here for detailed report

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