Insurance giant fined after fraud

INSURANCE giant Norwich Union was today fined £1.26 million by the Financial Services Authority after security lapses left nearly seven million customers at risk of fraud.

INSURANCE giant Norwich Union was today fined £1.26 million by the Financial Services Authority after security lapses left nearly seven million customers at risk of fraud.

Information about customers was not secure, and led to fraudsters cashing in 74 policies - valued at £3.3 million - before the problem was identified.