The fraudster gathered enough personal information on Agius to convince a call centre employee to send out a replacement Barclaycard in his name. The thief took the card to a high street branch of the bank and withdrew £10,000.
"It was down to human error. Procedures were not followed fully and we have learned from it," Barclaycard told the BBC.
"All Barclays customers have a 100 per cent fraud guarantee as long as they take reasonable care of their information."
The bank has introduced a new security code word system for senior employees so that the same incident could not happen again.
Experts have already warned that 2008 will be a bumper year for identity fraudsters.
Barclays chairman has identity stolen
Marcus Agius, the chairman of UK-based Barclays Bank, has had £10,000 stolen by an identity thief.
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