Don't Sell Data To Claims Managers, Regulators Warn
Law360, London (February 7, 2020, 1:12 PM GMT) -- Regulators sent a warning to company administrators on Friday after discovering that there have been attempts to illegally sell on personal customer data after a business goes bust.
The Financial Conduct Authority and the Information Commissioner’s Office said in a joint statement that they were aware of insolvency practitioners trying to auction off personal data to claims management companies. The sector specializes in making lucrative claims on behalf of consumers, such as those for personal injury.
This can happen before or after a company has gone into administration and where it is likely that claims for compensation will be made to...
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