FCA loses £32,900 worth of electronics in one year

The Financial Conduct Authority (FCA) has lost £32,900 worth of electronic devices since July 15, 2021.

This figure was revealed by an Access to Information (FOI) request submitted by Mortgage strategy sister magazine Money Marketing July 8, 2022.

Lost electronic devices include laptops, tablets, and desktop computers. Laptops were the most common loss, with 32 devices missing.

It was followed by tablets and desktops, with 22 and 5 losses respectively.

Electronic devices lost by AFD between July 15, 2021 and July 8, 2022

Type Losses Estimated current market value
Laptop 32 £27,600
Tablets 22 £4,800
Desk 5 £500
Total 59 £32,900

Source: FCA

The regulator says: “The FCA takes information security very seriously.

“All portable devices used by FCA are protected by appropriate security measures to prevent unauthorized access and ensure information is protected; this includes USB drives that are encrypted, as well as controls implemented on FCA laptops to prevent the possibility of writing data to unencrypted USB drives.

Last year, litigation firm Griffin Law discovered via an FOI request that the FCA misplaced 323 electronic devices in financial years 2019, 2020 and 2021. This was worth £310,600 over three years.

He asked the regulator for a list of electronic devices that had been recorded as lost or missing during that period.

Of the 323 misplaced electronics, 197 had been reported as missing, with losses estimated at £193,400.

Recently, the regulator announced that it wanted to hire new employees for its digital delivery center.

The center will be based in Leeds and will also house other key FCA business teams.

It will be operational from September.

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