RK Rakib British Airways BA is the flag carrier airline of the United Kingdom and its largest airline based on fleet size, international flights and international destinations. When measured by passengers carried it is second-largest, behind easy Jet. The airline is based in Waterside near its main hub at London Heathrow Airport. On 31 Marchall four companies were merged to form British Airways.
Email GDPR compliance has yet to be fully embraced by firms on a global scale, yet headlines from this past week show just what the repercussions might be against a new regulatory landscape. The details of the hack itself: The bad guys grabbed onto the transaction data over a period of two weeks, beginning in late August and lasting into early September.
The pilfered data included credit card information and data tied to individuals making reservations online, through the website and via the British Airways mobile app. Among the first steps the firm took in the wake of the breach: CEO Alex Cruz apologized to those affected, and the victims have been told to contact banks or credit card firms.
Bloomberg reported that regulators — if they determine that the company should have had measures in place that could have prevented the breach — may levy fines. The fine would come in tandem with mandates that are a few months old, and are part of GDPR.
The law stipulates that companies take appropriate action in the wake of a breach and notify authorities within 72 hours of discovery.
Companies could face fines of as much as 4 percent of global revenues — and in this case, British Airways could be on the hook for as much as nearly million pounds, based on data.
But in the meantime, British Airways has been cited in the financial trade press as having acted in a timely manner, alerting authorities and those consumers affected by the breach well within the aforementioned hour window. Large organizations have so many intertwined websites, web services and mobile apps that they often forget about a considerable part of them.
That seems to be a promising data point showing a continued embrace of technology in financial services. And yet the consumers using those same banking services worry about data privacy a lot — 89 percent of them do, in fact.
As many as half of those surveyed said they are uncomfortable sharing payment and financial data with apps. A bit more than half said they want to be able to choose what data the third parties are allowed to access.
When it comes to more sensitive personally identifiable information, such as Social Security numbers and biometric records, around 60 percent of FinTech users are not comfortable sharing their data with FinTech apps.
Roughly a third of respondents think such security efforts are the purview of non-banks. As noted in Financial Times, regulators across the pond are also setting sights on money laundering controls — which some observers say may be too weak to deal with the scope and severity of threats.
Those shortcomings come as there is a lack of clarity surrounding process and cooperation, reported the publication. Suggested improvements include the creation of a memorandum of understanding that could boost coordination of data sharing and other efforts.Ty Opoku Adjei, a member of British Airways cabin crew, goes behind the scenes in a new series of two-minute vlogs called ‘Take Off Tuesday’.
More videos (click to play) Take Off Tuesday Ty Opoku Adjei, a member of British Airways cabin crew, goes behind the scenes in a new series of two-minute vlogs called ‘Take Off Tuesday’.
In the day-to-day running of the Company, the Chief Executive is supported by the Management Board, the members of which, as at 20 May , were the Chief Financial Officer and.
British Airways will keep its users informed of any significant change to the product, and the latest version of this user guide can always be provided upon request from [email protected] British Airways – UK Posted on September 21, May 19, by admin Following entry is a record in the “ Catalogue of Catastrophe ” – a list of failed and troubled projects from around the world.
The Company has in place internal control and risk management systems in relation to the Company’s financial reporting process and the Group’s process for the preparation of consolidated accounts. Information systems. Information systems are developed to support the Company’s long-term objectives and are managed by a professionally.
British Airways strategic goal is to become the world‘s leading global airline, to achieve this, the management sets objectives, which are accomplished through rigorous decision-making, planning, controlling and the use/support of information systems, to show its presence in key global cities, improve employee relationship; to deliver.