Banks May Face Prosecution

August 22, 2005

After the recent furore of the identity fraud cases that were emitting from India, it has been claimed that any banks or financial institutions, which were caught up in the leaking of customer’s personal details, could face prosecution. This has led to the banks and building societies and credit card companies who could be indirectly involved in the scam, too work with the police in London, to try and deal with the problem and to help patch up consumer confidence, which will be hit hard after such a serious security breach.

The reasons that they could face fines of £5000 fines for each of the cases that the certain lenders are involved in, where the personal details of they’re customers have been stolen, the banks, credit card companies and building societies, have a requirement to make sure that the call centres that they employ, are reliable no matter the location and that the details of they’re customers are secure.

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Some companies have come out to ease the minds of they’re customers, with the Royal bank of Scotland stating that there is very little chance of they’re customers being affected, as they do not employ the services of any call centres in India, with the Halifax, Nationwide and NatWest also stating things along these lines.

This is not the case with Britain’s biggest banker HSBC who do have a call centre in Bangalore, though they say that any customer is protected on any Identity fraud that is made in their name and have also said that any stolen information on they’re customers, were made by using another source.

Abbey National have also said that there is no evidence that any customers personal details were stolen and was involved, to the investigation and story that was carried out by the daily tabloid newspaper the Sun.