Capita has been slated for sending an adviser firm's bank account details on e-mail and has been accused of breaching the FSA's requirements on data protection and security.
An e-mail from the Capita Commissions team, who deal with back office administration on Axa Winterthur's SIPP products, was sent to an IFA on January 29. It stated the team had recently introduced a new system which enabled all future adviser remuneration payments to be paid automatically by BACS. Advisers were then asked to confirm their bank details, which were contained within the email. However, David Brunning, director at Brunning Newman Houghton Ltd, says he is absolutely furious this message was sent as the e-mail contains "everything that your budding fraudster needs to ruin a co...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes