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HSBC should have used a courier service but they tried to save a dollar (or pound) instead. HSBC faces the prospect of a Financial Services Authority (FSA) investigation and a hefty fine after it admitted that it had lost key details of 370,000 customers. HSBC is the latest financial services giant to be embarrassed by such a lapse.
HSBC said that it was writing to its life insurance customers to warn them of the loss. A computer disc containing the name, date of birth and health information on 370,000 people went missing after January 31, when staff at HSBC’s Southampton office used Royal Mail to mail the disc to the Folkestone office of Swiss Re, the reinsurer, because the usual electronic transfer system had broken down.
This article, Save a little money and lose customer data at HSBC, is just one of our articles from our Bank Horror Stories, HSBC Secrets Part 3
Bank Horror Stories monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
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