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News

High Data Privacy Complaint Levels In UK Banks

Iron Mountain : 08 July, 2011  (Technical Article)
Iron Mountain comments on the banking industry requirement to improve data privacy following report from the Information Commissioner's Office

Phil Greenwood, Director of Iron Mountain comments on the ICO report which highlights that banks face more customer complaints than any other group when it comes to handling sensitive information


“The most recent report from the ICO suggests that banks attract more customer complaints than any other group when it comes to handling sensitive information (Banks face more privacy complaints from customers than any other group).


“With more complaints than any other group in the private sector, it’s time for banks to take the necessary steps to implement best practice. They need to ensure that sensitive information, whether on paper or stored as a digital record, is kept secure at all times. Irrespective of its format, customer and other critical business information is vulnerable when it is moved. It is key that any movement is traceable and secure. Appropriate protection must cover every stage of the information life cycle from the creation of the document through to its secure destruction when the data is no longer required.


“Banks already come under immense scrutiny from the public, and the findings of this report do not demonstrate any urgency in changing this. Information must be kept safe and remain uncompromised. Banks have a fundamental responsibility that comes with using customer information; greater focus is needed on corporate responsibility, corporate conscience and responsible business.


“Banks face an uphill struggle to re-establish economic strength and customer trust.  The role of best practice in information management in achieving this cannot be ignored. Failure to do so could cause further damage to reputation.”

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