ICO Levies £150,000 Fine Following Breach
PRIVACY LAW—UKJuly 5, 2012
Out-Law.com reports on the Information Commissioner’s Office (ICO) fining Welcome Financial Services Limited (WFSL) £150,000--its highest penalty to date--following the loss of about half a million customer records. Customer names, addresses, phone numbers, dates of birth and loan account information “had been stored on two unencrypted backup tapes that the company used to log its daily business activity,” the report states, noting WFSL discovered the tapes were "unaccounted for" last November. The ICO reported receiving 26 formal complaints about the incident.