A laptop containing more that 11 million customer account records was recently snatched from Nationwide Building Society. What the hell is a building society, you ask?
Well, for Americans who don’t have a clue what goes on anywhere but within a three block radius of where they live and work (exception being what the news media reports on the Iraq War), they are in luck this time around. A building society is kind of like a cross between a savings & loan and a credit union (tossing in a splash of mutual insurance company, just without the insurance part). So, you can associate building societies with real estate debacles if you like, or you can just consider allowing 11 million customer records to be a minor disaster – the customer is the only one who is going to lose, just like in the States!
Nationwide has issued an apology, but in grand corporate fashion they are announcing it only three months after the incident occurred. Doesn’t that sound like familiar procedure too?