Customer records illegitimately accessed at online homeloan broker

Synopsis

An employee at this financial company conspired with third parties to provide both customer and administrator access credentials to their IT systems. This permitted the third parties to access confidential customer details and use this information to market their own loan products.

By sharing these credentials the employee demonstrated complete disregard for his company and customers. For his efforts, the employee commanded a fraction of the revenue cheated from his company.

The employee’s actions were unacceptable both morally and legally but the case called into question the scope of existing legislation to deal with cyber security threats caused by insiders.

Analyst

Courtenay Brammar

Experienced global enterprise risk and governance professional. Previously Vice President at Morgan Stanley, Deloitte Risk Advisory practitioner and PRMIA steering committee member in both London and New York.

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