A spokeswoman for the FSA said evidence of the problem had come from discussions with financial services firms and law enforcement agencies and, she said, intelligence suggested it was ongoing.It is disturbing that the FSA's suggestion is that data protection laws should be changed so that banks can investigate further their employees' private lives. Instead, banks should be designing systems that are secure against insider attack and that protect customers from liability for employee fraud.
Wednesday, November 16, 2005
FSA warns of bank insider fraud
Thanks to Nicholas for pointing out that the FSA has warned banks that they are being infiltrated by organised crime gangs aiming to commit fraud: