FSA speaks out on data security

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LONDON – The UK Financial Services Authority (FSA) has issued its quarterly financial crime newsletter, which highlights poor data security as a major concern. The paper sets out some important best practices, such as senior management taking responsibility for data security; firms having detailed plans in place to react to data losses and to communicate such losses to customers; and making simple and memorable guidance available to all staff. The FSA intends to consider enforcement action where

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