Francesc Riverola,
CFTC Sanctions Foreign Currency Broker Who Allowed Confidential Personal Information of its Customers to Appear on the Internet
Interbank FX, LLC Ordered to Pay $200,000 and Establish Systems to Ensure the Safety of Consumer Records and Information
Washington, DC – The U.S. Commodity Futures Trading Commission today simultaneously filed and settled charges against Interbank FX, LLC (Interbank), ordering Interbank to pay a $200,000 civil monetary penalty for violating rules designed to protect the confidential personal information of consumers. The CFTC order also requires Interbank to establish a comprehensive security program that provides administrative, technical, and physical safeguards for the protection of consumer records and information.
According to the order, in March 2008, an Interbank customer discovered that personal information about herself, such as her name, address, phone number, date of birth, social security number, driver’s license number, and bank account numbers was accessible on the Internet through a Google search. Interbank began an immediate investigation and learned that one of its Information Technology employees had placed files containing the confidential personal consumer information of approximately 13,000 customers and prospective customers on a personal website that was accessible on the Internet for at least a year. This security breach was possible because Interbank did not have policies or procedures directed to the protection of confidential consumer information at the time its employee uploaded the information to the Internet.
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