News that Reed Elsevier's Matrix database has been hacked, allowing unauthorised access to information on up to 32,000 people must surely alert many to the false hope promised by data protection legislation and talk of "safe harbors" for data sent overseas by major financial institutions.
Details are sketchy - at the request of the FBI, Reed aren't giving too much away - but it has to raise questions about banks and other financial organisations use of "offshore" data processing facilities.
Even if customers give express consent to their details being sent to India or the far east for processing, how can we ever be sure that it will remain secure?
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