Lost data victims desperate to protect bank accounts
December 3, 2007 by admin
Filed under News, News-Banking
The millions of victims of the HM Revenue and Customs data loss blunder have been desperately taking measures to try and protect their bank accounts according to a recent report.
HM Revenue and Customs lost disks containing around 25 million bank account details recently, and although there is nothing to suggest that the information has fallen into the wrong hands the government has urged those affected by the situation to remain vigilant in order to reduce the chance of becoming a victims of fraud or theft.
Over the past few days thousands of potential victims have been flocking to change their bank account passwords and PIN numbers in a bid to try and protect their accounts. Because the data related to child benefit and contained names and dates of birth it is thought that parents using their children’s names and dates of birth as part of their banking security details may be at most risk in the event that the data does fall into the wrong hands.
Sandra Quinn from APACS stated: ‘Obviously with the scale of this there can be no guarantee that fraud won’t happen, but we are doing all we can to minimise that risk. Our best advice is that if you use your child’s name or date of birth as passwords then it would be a good idea to change them, but there is no need to panic.’
Banks are also taking precautions to try and protect customers’ accounts.
One Barclays official stated: ‘We have briefed staff to be extra vigilant, and will be asking customers for additional information as well. Obviously we won’t say what those extra measures are, but we are asking people to bear with us, as we take all steps to minimise the risk to customers.’
Tom Smith
3rd December 2007
Data loss puts thousands at risk
November 8, 2007 by admin
Filed under News, News-Insurance
Thousands of Standard Life customers could be at risk of identity theft after their personal details were lost.
The details of around fifteen thousand Standard Life customers were being sent on CD from HM Revenue and Customs to the Standard Life headquarters in Edinburgh. This is a routine process carried out by HMRC. However, the courier lost the CD on this occasion, and it never arrived at the company’s headquarters.
Officials from Standard Life and HMRC are now warning customers to be vigilant. The data related to pensions customers, and amongst the information about each consumers was their National Insurance number, their names, their dates of birth, and their pension plan numbers. The CD was sent and lost around a month ago state officials. Reports also claim that a second CD with consumer information has gone missing, but it is not yet known which company this second CD was meant to go to.
The customers at risk have now been sent letters from Standard Life and HMRC. However, this is almost five weeks following the loss of the data, which has resulted in criticism.
One customer expressed her concern over the delay in notifying customers of the breach of security, stating: “This happened at the end of September and it is a month before notification. They are saying that addresses were not on there, but if someone has your surname and date of birth it is not that difficult to track you down.”
An official from Standard Life stated: “We have no evidence that the disc has fallen into third party hands and we have also been closely monitoring all the accounts and have seen no indications of any suspicious activity.”
Mark Wright
8th November 2007
Make sure your kids’ belongings are insured
November 3, 2007 by admin
Filed under News, News-Insurance
Parents in the UK are being urged to ensure that their children’s belongings are insured after research showed that kids today carry around an array of expensive gadgets and items when going to school or college.
This includes mobile phones, MP3 players, iPods, handheld games consoles, digital cameras, and even expensive jewellery in some cases. Industry experts state that the cost of replacing the items should they be lost, stolen, or damaged could be very high, and therefore parents should make sure that there is adequate insurance in place.
In addition to a range of expensive gadgets and jewellery, many kids also carry costly sports equipment or musical instruments to school or college, and again the cost of replacement in the event of loss, damage, or theft can be very high.
Parents are urged to ensure that the insurance cover in place covers all of these items, so that there is no financial loss in the event of a loss, theft, or damage to the items.
According to a recent survey around three in five school and college kids carry a mobile phone, and around one in five carry a handheld games console. As an increasing number of mobile gadgets comes on to the market, kids today are going to school laden with an array of expensive items making them targets for thieves. The average student now carries around £250 worth of items according to reports.
Insurance experts advise parents to contact their insurance companies and ensure that the goods carried around by their children are covered under personal possessions.
Parents may want to shop around to compare the cost of this cover, as it can vary from one provider to another. Parents should also make sure that they disclose all expensive items that their child carries to ensure that the cover provided is adequate.
Tom Smith
3rd November 2007
