{"id":371,"date":"2007-02-21T00:00:00","date_gmt":"2007-02-21T00:00:00","guid":{"rendered":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/2007\/02\/21\/uk-bank-fined-1-9-million-for-losing-laptop\/"},"modified":"2021-12-30T11:37:08","modified_gmt":"2021-12-30T11:37:08","slug":"uk-bank-fined-1-9-million-for-losing-laptop","status":"publish","type":"post","link":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/2007\/02\/21\/uk-bank-fined-1-9-million-for-losing-laptop\/","title":{"rendered":"UK Bank Fined $1.9 Million for Losing Laptop"},"content":{"rendered":"<p>A major financial institution in the United Kingdom was slapped with a nearly $2 million fine for failing to adequately protect customer information.  The Financial Services Authority fined the Nationwide Building Society \u00a3980,000 for failing to have effective systems and controls to manage its information security risks.  The fine is directly connected to last year&#8217;s theft of a Nationwide laptop from an employee&#8217;s home.  During its investigation, the FSA found that the building society didn&#8217;t have adequate information security procedures and controls in place, potentially exposing its customers to an increased risk of financial crime, according to a release on its Web site.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Firms&#8217; internal controls are fundamental in ensuring customers&#8217; details remain as secure as they can be and, as technology evolves, firms must keep their systems and controls up-to-date to prevent lapses in security.&#8221;<\/p>\n<p>By agreeing to settle at an early stage of the FSA&#8217;s investigation, Nationwide qualified for a 30% discount under the FSA&#8217;s executive settlement procedures; without the discount, the fine would have been \u00a31.4 million.<\/p>\n<p>http:\/\/www.darkreading.com\/document.asp?doc_id=117881&#038;WT.svl=cmpnews1_1<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-371","post","type-post","status-publish","format-standard","hentry","category-financial"],"_links":{"self":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=371"}],"version-history":[{"count":1,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/371\/revisions"}],"predecessor-version":[{"id":2858,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/371\/revisions\/2858"}],"wp:attachment":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}