HSBC PAYS HEAVY PENALTY

By D.E.Levine

The heaviest fine ever imposed in the United Kingdom for a data breach was levied against banking giant HSBC. The regulator imposed a $4.9 million fine against three separate divisions of the bank.

Earlier this year HSBC suffered two data breaches that resulted in possible exposure of customer confidential information. The bank mailed out unencrypted personal information that went missing.