Ironically, in his former life, Peter was CFO at a large oil company and once wrote a serious presentation on fraud detection and prevention.

FORBES: IT Guru Turns Out To Be Security Hole

Financial institutions continue to advance and incorporate fraud prevention and detection measures into their offerings, but the external criminal networks are constantly evolving and banks must balance the potential exposures with consumers demand and expectations.

FORBES: Enlisting Customers in Managing Cyber Fraud Risks

"We are currently contacting a number of students by telephone who we have identified as being at risk of having their details compromised, to advise them of the necessary security steps they should follow to ensure their details are protected, " said Heather Laing, fraud prevention and detection manager for the Student Loans Company.

BBC: Student Loans Company's fraud alert