HSBC hit with multi-million pound fine

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The Financial Services Authority (FSA) has fined three HSBC firms, including HSBC Insurance Brokers, over £3 million for not having adequate systems and controls in place to protect their customers' confidential details from being lost or stolen. HSBC Insurance Brokers was fined £700,000 in total.

The firms' failings have contributed to customer data being lost in the post on two occasions.

During its investigation into the firms' data security systems and controls, the FSA found that large

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