Your Web News in One Place

Help Webnuz

Referal links:

Sign up for GreenGeeks web hosting
May 3, 2018 02:00 pm

Australia's Largest Bank Lost The Personal Financial Histories Of 12 Million Customers, And Did Not Tell Them About It

The Commonwealth Bank, the largest bank in Australia, has lost the personal financial histories of 12 million customers, and chose not to reveal the breach to consumers, in one of the largest financial services privacy breaches ever to occur in Australia, BuzzFeed News reports. From the report: BuzzFeed News can reveal that the nation's largest bank lost the banking statements for customers from 2004 to 2014 after a subcontractor lost several tape drives containing the financial information in 2016. While the bank initially notified the Office of the Australian Information Commissioner (OAIC) of the breach shortly after it became aware of it in 2016, a spokesperson for the OAIC told BuzzFeed News it was now making further inquiries into the privacy breach, following a damning report into the bank's culture released on Tuesday. Angus Sullivan, Commonwealth Bank's acting group executive of retail banking services told BuzzFeed News in a statement: "We take the protection of customer data very seriously and incidents like this are not acceptable. We want to assure our customers that no action is required and we apologise for any concern the incident may cause." "We undertook a thorough forensic investigation, providing further updates to our regulators after its completion. We also put in place heightened monitoring of customer accounts to ensure no data compromise had occurred."

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/Ln92O9WqI9Y/australias-largest-bank-lost-the-personal-financial-histories-of-12-million-customers-and-

Share this article:    Share on Facebook
View Full Article

Slashdot

Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..

More About this Source Visit Slashdot