Security begins at home

Security - computerised or otherwise - is about knowing your rights and responsibilities. Don't give away information you shouldn't - and certainly not for a sweet. Hopefully you fall into the 30% of people who wouldn't give away their password for some confectionary, but don't let your guard down either. Sometimes requests for information from more responsible quarters can lead to the same problems.

As an example, I've been talking to a financial advisor this morning, and one of his original requests was for copies of some identification documents - passport, drivers licence, a recent utility bill. This is to comply with the money laundering regulations we have here in the UK.

In addition to the copies, he had to fill in a form that duplicated the details (reference numbers, etc.) to prove that he had actually seen the documents and verified that the photo on my passport matched me. Strangely, there was even a note on the form that said the reason for copying the details to the form was 'just in case the attached copies went missing'.

I was taking out life insurance, which only provides any money when I die, and a pension, which only provides money for me in 30 years time. Hardly ideal solutions if I wanted to launder illicitly gained funds.

But worse is the rather lax thoughts on the documents themselves. Identity theft is huge problem in the UK, just as it is elsewhere. Why should I hand over copies that, by their own admission, could be lost? Isn't anybody worried by the thought that a malicious employee could purloin the documents and steal my identity, based on documents I'd provided, in good faith, to a company who in turn was complying with government rules?

You would think so, but apparently these companies are more worried about the regulations than they are about identity theft, even though by asking for copies of these documents they are increasing my exposure to a far more dangerous - to me - issue than money laundering.

As it happens I didn't give him copies of my identity, because he didn't need them. That wasn't his decision, but mine. The reason I know copies aren't required is because I've actually read the regulations. The regulations have no requirement for copies of documents, unless you haven't actually met the individual. Providing a representative of the company has seen and validated your information, that's all they need.

My advice? Make sure you know the rules before you start giving away information about yourself. It doesn't matter whether that's your password and login details for the sake of a sweet, or your identity documents in the name of your personal finances.