BANKS FACE HEAVY FINES FOR "DUMPING" SENSITIVE CUSTOMER INFORMATION

British banks have come under fire this week for compromising customers’ security. It has come to light that many banks have been dumping sensitive customer information, including bank statements and loan applications in bin bags, without putting it through the shredder first. A number of bank staff have apparently complained about the lax security measures being taken, especially at a time when identity theft is rife. In future, banks will have to keep a tighter rein on the disposal of sensitive customer information, or risk facing heavy fines.