FSA: financial firms fail to check outsourced security.

The article reports that according to Great Britain Financial Services Authority (FSA), financial services firms are failing to check the information technology (IT) security arrangements of firms they outsource back-office functions to. In its Data Security in Financial Services 2008 report, FSA said it was a "major concern" that firms are not checking that outsourcing suppliers have the right IT security and policies in place for handling their customers' details. The FSA said nearly all firms questioned rely on IT support from third parties.