Customers lose £3.3m through identity fraud
Norwich Union has been hit with a fine for £1.26m by the FSA after customers lost £3.3m through identity fraud.
Reports said that inefficient security checks at its call centre let fraudsters impersonate customers and cash in their policies.
The FSA said the company had failed to deal with the issue properly even when it had been alerted to the problem and said its controls had been 'particularly poor'.
