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:
– Training and Awareness
– Staff recruitment and vetting
– Physical Security
– Disposing of customer data
– Managing third-party suppliers; and
– Internal audit and compliance.
Click here for detailed report