Posted by PAW_Fl on 3/8/05 8:05am
Msg #24320
Mortgage Company Settles FTC Charges
Nationwide Mortgage Group Inc., Fairfax, Va., settled with the Federal Trade Commission on charges that it failed to adequately protect customers' personal and financial information, as required by the safeguard provisions of the Gramm-Leach-Bliley Act. According to the FTC, the mortgage company failed to assess risks to sensitive customer information; implement safeguards to control these risks; train employees on information security issues; oversee loan holders' handling of customer information; and monitor its computer network for vulnerabilities. The FTC also alleged that the company did not provide required privacy notices to consumers explaining how their personal information may be used or disclosed.
Read more -> http://www.ftc.gov/opa/2005/03/nationwide.htm
|
Reply by Slarty_FL on 3/8/05 2:23pm
Msg #24372
I am not suggesting for a moment that we shouldn't all take every necessary precaution with our own or borrowers' information...but realistically, privacy is a thing of the past. You would be amazed what information can be uncovered about you with a few determined minutes on the internet. It's kind of like protecting your home against burglars. By all means you should lock your door, install a security systems, etc...but that will only stop amateurs. A determined professional will find a way in if he wants to.
|
