A complete change in how we do banking is needed….
Anyone that has a copy of the form I fill in for a credit check can open a bank account in my name!
Anyone that has the information to set up a DD on my account had all the information that is needed for someone else to setup the DD.
There will ALWAYS been data beaches, therefore the data that must be stored and process for each customer should be such that it is not a great issue if it gets stolen.
Encryption does not help, as the key needs to be accessible to the system.
The credit check data has to be kept by Talk Talk, as otherwise they can’t improve their risk control systems when taking on new customers. (Likewise a landlord has to keep it, so they can trace a none paying tenant that has just left the property.)
We need a quality ID checking system, but yet, we are not allowed to have ID cards as the public does not like the concept!!!!