The FSA has published issue 8 of its Financial Crime newsletter. In this issue of the newsletter the FSA publishes the findings of a survey it conducted on authentication and safeguarding of customer identity. In the newsletter the FSA states that firms have a duty to:

  • Have appropriate systems and controls to manage the risks to their business.
  • Comply with relevant legislation such as the Data Protection Act.
  • Take into account the harm that identity theft incidents could cause when planning systems and controls to prevent fraud.

At the end of the newsletter the FSA sets out examples of good practice in:

  • Establishing a suitable and effective authentication process.
  • Protecting personal data held on customers.
  • Helping customers to be more security conscious.

View Financial Crime newsletter - issue 8, (PDF 84.9KB), 14 August 2007