Bank of England expresses concern over Bloomberg data monitoring

15 May 2013

The Bank of England has commented on the data snooping activities of the financial news agency Bloomberg, calling them "reprehensible".

It has now said it will liaise with other central banks across the world to find out how to move forward with the matter.

Bloomberg came under scrutiny after Goldman Sachs complained about journalists attempting to glean information from the data.

Earlier this week it said it was an "inexcusable" error to allow its reporters to monitor the activities of clients using its terminals.

The US Federal Reserve is now looking into Bloomberg's practices to determine whether or not activities performed on its terminals by its chairman, Ben Bernanke, were also tracked.

A spokesperson for the Bank of England said: "The protection of confidential information is vital here at the Bank. What seems to have happened at Bloomberg is reprehensible."

Bloomberg has attempted to reassure its clients over the concerns over whom it allowed to access sensitive data on its terminals.

By Gary Cooper

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