HSBC loses disc containing personal details of 370,000 customers

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Facing investigation: HSBC has admitted to losing a disc containing details of 370,000 customers

In the latest missing data scandal, HSBC has admitted losing a computer disc containing the personal details of nearly 400,000 customers in the post.

An inquiry has been started by the bank and the Financial Services Authority over why security procedures were breached.

The bank apparently failed to implement its own security regime which requires sensitive customer information to be sent electronically via an encrypted link.

It appears the electronic transfer system was not working on the day HSBC staff were trying to send the details of some 370,000 customers.

The information was loaded on to a disc at the bank's life assurance offices in Southampton then sent via Royal Mail courier to the reinsurer Swiss Re in Folkestone about four months ago.

The disc contained the names, dates of birth and insurance cover levels of customers who hold life assurance policies at the bank.

The bank apparently failed to learn the lessons of the fiasco involving the loss of discs put in the post by HM Revenue & Customs last year.

On that occasion, computer discs containing the names, addresses, dates of birth, child benefit numbers, National Insurance numbers and bank details of 25million child benefit recipients went missing.

HSBC could be hit with a multi-million pound fine for putting customers at risk of identity theft.

The bank attempted to play down the risk. "The data disc contains no address or bank account details for any customer and would therefore be of very limited, if any, use to criminals," HSBC said in a statement.

The bank added that the data was password-protected.