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Dublin: 15°C Tuesday 19 October 2021

New Beginning 'didn't sell clients data... an email was sent by mistake'

Co-founder Ross Maguire denies that the information was sold.

LOBBY GROUP FOR distressed mortgage holders New Beginning has apologised after the details of more than 1,500 customers were accidentally sent to an investment firm.

A report in today’s Irish Mail on Sunday claimed that the details had been sold to Arizun, a Malta-based fund, to see how profitable a mortgage-to-lease scheme would be.

This scheme would consist of the homes being rented back to the homeowner, which could then be bought back in future.

Approaches have been made to banks to gauge interest in such a scheme, which could generate a profit for New Beginning.

However, speaking to Savage Sunday on Today FM, co-founder Ross Maguire confirmed they had been working with Arizun on the scheme, and were calculating what the rent would be on certain properties.

All named had been redacted, but one “inadvertent email” containing the names of 1,500 customers had been sent to the firm.

Mcguire said it was a “mistake”.

When that was realised, our partner agreed to and deleted it from their system.

He confirmed that the incident is now under investigation by the Data Protection Commissioner, but was only reported three months after the email was sent, a delay Maguire “regrets”.

He also claimed that it may not constitute a data breach, as under certain criteria such data can be sent.

MaGuire said that New Beginning was being supported financially by Azriun.

“We’re in a joint venture with them to create a highly innovative solution for up to 20,000 homeowners. I would hate to think that this mistake on our part would deflect from the benefit this could be”.

First published 12.10 pm

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About the author:

Nicky Ryan

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