Bank of Scotland shares down after fine

Bank of Scotland's share price has slipped today (August 5th) after the bank was fined over a fax mistake.

The bank faxed customers' account details and payslips to the wrong recipients in a mistake that was described as "unforgivable" by the Information Commissioner's Office.

Stephen Eckersley, head of enforcement at the body, explained that the bank has "continually failed to address the problems raised over its insecure use of fax machines".

The error was first spotted in February 2009 and went on for three years before the bank took action, leading to it being given a fine of £75,000.

Mr Eckersley noted that the bank's mistake was in breach of the Data Protection Act.

Following the announcement of the fine, the share price of Bank of Scotland fell by 1.67 per cent, a drop for the day's trading of more than five points.

At 16:21 BST, its stocks were trading for 317.10. The bank has a one-year target of 324.96.

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