In Focus: 'Bring Curtain Down On Data Fiascos, Or Risk New FSA Penalties9

摘要

For every action there is an equal and opposite reaction - and after prolonged inaction on the issue of safeguarding private data many public and private sector organisations may be about to feel some harsh consequences. The UK's financial services regulator, the Financial Services Authority, has signalled to retail banks that it may be prepared to start punishing board-level executives for failures by their organisations to adequately protect customer information. This move is bred of a frustrationthat executives may still be palming-off overall security responsibilities onto the IT department, instead of accepting that the buck must stop with them. Under this new regime, chief executives, compliance officers and board-level IT directors could all be held individually accountable, truly a culture shock for the complacent.