The fine follows the theft of a laptop from a Nationwide employee's home which contained confidential customer data.
The Financial Services Authority (FSA) found security was not up to scratch after the man had put details of nearly 11 million customers on his computer.
The FSA also found that the Nationwide did not start an investigation until three weeks after the theft occurred.
Full story here.
Do you think fines on this side of the pond would help?
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