Slashdot Mirror
UK Banks Dump Credentials in Bin Bags
Plutonite writes "BBC news is reporting that several UK banks face 'unlimited fines' for careless handling of sensitive client information. This apparently came after investigators found account details while rummaging through the trash outside the banks involved. In this age of online banking and related security problems, and in light of this scandal, where can we expect to find the greatest threat of ID theft?"
5 or 6 years ago my father came down with cancer, and his wife (now ex) took over the regular task of managing the finances of the household, etc. (This was in Wisconsin.) She also took it upon herself to fraudulently clean out his "Federally Protected" IRA, all of his *non-joint* accounts, filed false tax returns, and then ran up tens of thousands of dollars in debt in his name (hiding the statements and records to keep the game going as long as possible). She even bought a $20,000 diamond ring and a Mercedes for herself -- all while my Father was going through radiation treatment and surgery, etc. Finally, the house of cards came tumbling down, the police were notified, and she admitted everything.
The result, 5 years later: We found out that the bank had known this fraud was taking place on his accounts (we have one of their internal documents explicitly stating this), yet they covered this up during the discovery process and only gave it to us years later. She's never been arrested nor paid any restitution for what she did, the "Federally Protected" IRA was never reinstated, and a judge in Wisconsin had my father put in jail for refusing to give her his car, which the judge had mistakenly awarded to both of them during the divorce trial. My father sued the bank and has recovered nothing to date.
Your money is not safe, and no one cares.