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Barclays Data Breach: Hackers Steal, Sell 27K BCS Client Files

BCS could face unlimited fines


A Barclays data breach in which 27,000 customer files were stolen is the worst breach in British banking history and has sent Barclays (BCS) scrambling to tighten its security.

barclays-data-breach-bcs-stockPersonal and financial details from customers were taken and sold to black-market traders.

In additional to identify theft, the information — worth millions — is likely to be used now to coerce unsuspecting individuals into scams. The information contained customers’ financial earnings, savings, home mortgages, and even health issues.

Barclays faces potentially massive fines for the Barclays data breach.

On Friday, when it realized the data had been accessed, Barclays promised a full-scale investigation into what had happened.

The information was leaked to the UK’s Daily Mail in the form of a memory stick containing thousands of customers’ information.

Under the guidance of lawyers, this newspaper has viewed a small selection of the files, which are effectively stolen goods. Each report is about 20 pages long, and among the victims are doctors, businessmen, scientists, a musician and a cleaner.

…The whistleblower first became aware of the Barclays leads in September when the boss of the brokerage firm asked him to sell them to other traders. ‘The obvious question I asked was, “These are fantastic leads, why are you not using them yourself?”

‘He replied, “We have – sell it as secondary data.” He had got all he could out of them. New, they were worth £50 per file. He asked us to sell for £8.’

BCS stock has not  yet been impacted by the news, up 1% from Friday.

BCS stock is down 4% from last year.

Article printed from InvestorPlace Media,

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