Risk: Informational
Nationwide Building Society has been fined £980,000 by the Financial Services Authority (FSA) after its security was found to be inefficient following the theft of a corporate laptop.
The laptop was stolen from the home of a Nationwide employee last year and contained details of almost 11 million customers. Although Nationwide maintains that no account details were on the laptop, nobody will confirm what information was saved on it, as it's not yet been recovered. Margaret Cole, Director of Enforcement at the FSA, said: "Nationwide is the UK's largest building society and holds confidential information for over 11 million customers. Nationwide's customers were entitled to rely upon it to take reasonable steps to make sure their personal information was secure."