subscribe to our feed.It’s one thing for a financial institution to have a data breach through hardened systems. I understand that online and offline security is incredibly hard and complex. I understand that it is a constant cat and mouse game to stay one step ahead of hackers and thieves. What I don’t understand is when a data tape is not encrypted and then lost. That’s plain laziness and a complete lack of concern for a company’s patrons’ security.
In fact, you can read the Connecticut Attorney General’s original statement to the bank. But this was before the Bank of New York Mellon came back and said that there were actually 10 million records on that tape. The original figure was around 4 million. And what was lost? Names, addresses, social security numbers, bank account numbers, etc. Connecticut Governor M. Jodi Rell said this about the disaster:
“It is simply outrageous that this mountain of information was not better protected and it is equally outrageous that we are hearing about a possible six million additional individuals and businesses six months after the fact. We fear a substantial number of Connecticut residents are among this latest group.”
What this shows to me is a complete disregard for the consumers of that bank. It shows that the bank was working in its own self interest to minimize damage. If I were a patron of that bank, I would take my money and go somewhere else.
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