Cloud Fax Changes the Game for Compliance Why Highly Regulated Businesses Make the Switch
by eFax Corporate
Imagine having a long and prestigious history as the country’s first bank, established as far back in 1695. Now imagine that 300 year-old reputation getting skewered by the press for breaches of the Data Protection Act, getting investigated by the Information Commissioner’s Office (ICO) and finally being slapped with a £75,000 fine in a very public way.
That’s exactly what happened to the Bank of Scotland, now part of the Lloyd’s Banking Group. Pay slips, bank statements and account details, along with customers’ names, addresses and contact details were wrongly divulged to a third party organization as well as a member of the public. Both parties had fax numbers that were one digit different from the intended recipient: an internal department within the bank.
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