Home » IT

Australian bank CBA loses 20 million customer records, didn't tell customers

03 May, 2018, 15:56 | Author: Janis Wilson
  • The statements reportedly contained customers’ names addresses account numbers and transaction details

In a statement, CBA said the data included customer names, addresses, account numbers and 16 years of transaction information used to print customer account statements (dating from 2000 to early 2016). Those not affected by the breach received a statement saying "there is no evidence of your information being compromised and you do not need to take any action". This supposedly involved the destruction of backup magnetic tape drives containing the financial data. The tapes contained customer names, account numbers, addresses, and transaction details.

The data was held on a magnetic tapes which were supposed to be destroyed by sub contractor Fuji-Xerox in 2016.

"Incidents like this are not acceptable", Angus Sullivan, acting group executive for retail banking services, said in the statement. But we're also sure this won't be the last freaky case of missing data that we'll find out about.

In relation to this fresh privacy scandal, CBA said on Thursday "no evidence was found of any customer information being compromised, and over the past two years there has been no evidence of customer harm or suspicious account activity".

Over the past two months, the Commonwealth Bank faced has allegations from the government of money laundering and collecting fees from customers that it knew had died. There have been numerous reports of counterfeit credit cards and identities from CBA-owned BankWest available for sale on the dark web, and staff members were sacked from the WA bank in 2014 for selling documents.

"We concluded, given the results of the investigation, that we would not alert customers".

More news: Stormy Daniels Sues Trump Again, This Time For Defamation

While CBA did notify the regulators (in this case, the Office of the Australian Information Commission and the Australian Prudential Regulation Authority), they chose not to disclose the breach to customers as they were deemed "protected".

As Fairfax Media understands, CBA believes a person handling the sensitive tapes that were scheduled for destruction instead left them unattended, and did not go through with destroying them.

This is one of the biggest privacy breaches in recent memory, possibly in Australia's history, and it comes just days after the banking regulator delivered a scathing report on the Commonwealth Bank, describing a "widespread sense of complacency", "lack of accountability", and a failure to learn from mistakes at the company.

The banking regulator said on Tuesday that community trust in Australia's banks had been "badly eroded" after CBA had failed to meet expectations and "fallen from grace".

National Australia Bank chief executive Andrew Thorburn said the bank would likely be reviewing its own data processes after CBA's mass breach. The bank immediately put in place monitoring mechanisms to further protect customers.

The bank said it had also ordered an independent investigation.

Recommended:



Popular

Ronny Jackson not to return to job as Trump's personal doctor
The records also say the White House medical unit Jackson ran successfully passed regular controlled substance audits. It also said Trump has signed eight Tester bills on veterans into law.

SACA Boss Says He's "Quietly Confident" About An India Day-Night Test
The decision by Cricket Australia reiterates their committment to developing professional cricket on the Gold Coast. India and Bangladesh are the only two high-profile Test-playing nations to have not played a day-night Test yet.

Government grilled over CervicalCheck controversy after Limerick woman's battle
Ms Phelan said she did not want to see an inquiry or tribunal into the affair that would be dragged out and protracted for years. All of the other women affected would also be informed by today and given an appointment with a clinician free of charge.

Spanish LaLiga match report Real Madrid v Leganes 28 April 2018
Kiko Casilla was given the nod ahead of Keylor Navas whereas Casemiro was the only player that started yesterday and on Wednesday. Borja Mayoral doubled their lead right at the end of the first half by stabbing in from a metre out.

Every Box Office Record Set by Avengers: Infinity War
It joins only six other films to achieve such unbelievable figures, and is now Marvel Studios' best opening weekend yet. Domestically, the film put up a cool $250 million and was celebrated in Hollywood as the biggest opening ever.

New York Times obtains questions that special counsel wants to ask Trump
He was sacked on February 13, 2017 - purportedly because he lied to Vice President Mike Pence about the phone calls. But an interview with Mueller could open Trump up to perjury charges if he gives false statements.

Lionel Messi says Barcelona were far superior to their domestic rivals
But Real hope to make amends as they seek a fourth Champions League triumph in five seasons. However, one on-loan Barca star was unhappy with the goings on.

Pompeo says US-Israel relations 'never been stronger,' in Middle East visit
Pompeo met earlier on Sunday with Saudi King Salman in Riyadh , after dinner on Saturday with Crown Prince Mohammed bin Salman. Pompeo assured Prime Minister Benjamin Netanyahu that Washington would support Hebrew state in Middle East's "Iranian threats".

Merger talks between United Kingdom supermarket chains Sainsbury's and ASDA (Walmart)
The traditional high street has come under increasing pressure in recent years, with the growth in online retailers. We are demanding an urgent meeting with Asda to get the answers and assurances our members need and deserve".

Tense Russia ties, Afghan peace hopes top North Atlantic Treaty Organisation agenda
Pompeo and North Atlantic Treaty Organisation leaders are expected to discuss Russian "aggression" in Ukraine, Georgia and Syria. Pompeo will also have separate talks with the foreign ministers of Italy and Turkey.