IP, Technology & Data

More data security headlines today with the FSA’s announcement that it is fining three HSBC group companies over £3 million in total for failing to operate adequate systems and controls to protect customer information. I saw this initially on a newsfeed beaming out from the screen in a client reception area.

This illustrates my point from Friday. Fines of this magnitude, attracting this level of media attention, are what will (eventually) force behavioural and attitude change. What greater incentive to avoid a repeat performance than a seven figure fine and headline coverage from the BBC?

The plot thickened further today with the Information Commissioner’s Office reportedly now citing next April as the likely start date for its fining powers, but still no confirmation of this from the Ministry of Justice. Watch this space…