Feeds

Prudential cops £50k ICO slap for giving customer's life savings away

Company repeatedly mixed up pair with same name, DOB

Intelligent flash storage arrays

Insurance firm Prudential has been slapped with a £50,000 fine for merging the accounts of two customers' accounts with the same name and date of birth and not bothering to fix the situation when the customers complained.

The company merged the two accounts with the same first name, surname and date of birth in March 2007, a mistake which ended up seeing one customer's retirement savings transferred to the other customer's investment firm. The Information Commissioner's Office levied the fine, the first the office has served that doesn't relate to data loss.

Both customers repeatedly told Prudential that there were problems with their accounts such as the wrong address or wrong documents. In fact, both customers tried to change their listed address a number of times, but every time they managed it, the changed address was copied over to the other person's policies.

"This case would be considered farcical were it not for the serious sums of money involved," Stephen Eckersley, ICO. "Two customer files were consistently confused and the company failed to remedy the situation despite being alerted to the problem on more than one occasion before it was finally resolved."

As well as the fine, Prudential is also trying to get the money it transferred over to an investment company, which included the wrong customer's cash, returned. The insurance firm also said that it would be improving staff training and updating its processes. ®

Internet Security Threat Report 2014

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.