Commonwealth Bank loses nearly 20million customers' financial statements

A view of a Commonwealth Bank of Australia branch in Sydney Australia

AFTER it emerged that Commonwealth Bank lost customer statements linked to 20 million accounts, the institution has spent the night assuring people they are not at risk.

The bank said in a statement that the tapes "contained customer names, addresses, account numbers and transaction details from 2000 to early 2016".

But it did not contain passwords or PIN numbers which could be used to enable account fraud, the bank said.

BuzzFeed reported that the tapes were lost by subcontractor Fuji Xerox, which was decommissioning a data storage centre containing the tapes.

The bank said it had confirmed there was no evidence of information being compromised for the 19.8 million accounts involved or suspicious activity following the incident.

The bank searched for the tapes and let its regulator know they were gone, but it never told the customers whose data was lost.

I was really surprised to learn how the bank treated customer data so carelessly in the past and can't help but feel that this is yet another PR disaster for it.

"They need to bypass the media and communicate directly to get their message through, because whatever they (say) via media it will be put into a whirlpool of Royal Commission, money laundering and other filters", added Harris, referring to the powerful independent inquiry into the broader finance sector.

Real Madrid vs Bayern Munich: Confirmed lineups, predictions, Robben and Isco missing
He believes Bayern would be preapared to give Madrid a good fight, adding, "they're a great club and we're aware of that". In the quarter-final, Juventus showed a gameplan to battle against Real, and it nearly paid off.

In a conversation with ABC News' AM radio program, CBA's head of retail banking, Angus Sullivan, said that "when incidents like these are shared more broadly, they create risks in and of themselves". It did not tell customers because "we balanced the need to alert customers without unnecessarily alarming them", he said.

Examples of "harm" provided in a guide by the Office of the Australian Information Commissioner (OAIC) include: financial fraud including unauthorised credit card transactions or credit fraud; identity theft causing financial loss or emotional and psychological harm; family violence; and physical harm or intimidation.

"We have however been contacted by the OAIC this week for additional information about this matter and the actions CBA undertook in 2016".

But OAIC is now making further inquiries after a report by APRA slammed the bank for its "widespread sense of complacency".

Porter said he would investigate whether the information commissioner should have advised the bank to voluntarily disclose the breach and whether the government was warned.

Incidents involving the loss of backup tapes have previously occurred to large companies overseas, particularly as the tapes have been in-transit.

In 2005, the Bank of America lost several tape drives as they were moved between facilities, affecting about 1.2 million United States federal employees.

NAB confessed to its own data breach in late 2016, after it sent information such as the names, addresses and banking details of about 60,000 banking customers to a wrong email account.

Related News:

  • Chandrababu to undertake district tours hitting on Modi

    Chandrababu to undertake district tours hitting on Modi

    He also alleged that Modi was neglecting Andhra Pradesh as he found a new friend in the "corrupt" YSR Congress Party. On March 16, the ruling TDP reached a deadlock with BJP over this issue and ultimately quit the NDA coalition.
    Oculus Go Standalone Headset Now Available For $199

    Oculus Go Standalone Headset Now Available For $199

    The Oculus Go is a follow-up to the Oculus Rift , but unlike that device it does not require a connection to a computer. You get all the technology needed to play VR experiences and games in the headset itself, plus a wireless controller.
    What are the new dances and emotes in Fortnite season 4?

    What are the new dances and emotes in Fortnite season 4?

    Post the meteor drop, the map of the game has changed to great extents all thanks to the creation of crates across the island. Epic teased Season 4 first by having a comet appear in the sky and then by having flaming rocks land on the map during games.
  • Oil pares gains, market supported by Iran worries

    Oil pares gains, market supported by Iran worries

    At the same time, OPEC-led production cuts have continued to tighten global markets, despite record-setting US crude output. Analysts said the market is extremely sensitive to any developments on the nuclear deal and sanctions.
    White House Aide's warned about Ronny Jackson last fall

    White House Aide's warned about Ronny Jackson last fall

    Jackson's withdrawal as a candidate is a double whammy as Jackson will no longer serve as President Trump's personal physician. Senate Majority Leader Mitch McConnell (R-Ky.) told reporters Tuesday that he is not sure if Jackson will receive a hearing.
    Avengers smash United States  box office

    Avengers smash United States box office

    It joins only six other films to achieve such incredible figures, and is now Marvel Studios' best opening weekend yet. As per the current scenario Avengers War has became the first Hollywood movie by breaking all new industry records.
  • NRA Convention Bans Guns To Protect Mike Pence. Parkland Survivors' Jaws Drop

    NRA Convention Bans Guns To Protect Mike Pence. Parkland Survivors' Jaws Drop

    AP has deleted a tweet that incorrectly said the NRA had banned guns during Trump and Pence speeches at its annual meeting. County Judge Clay Jenkins is hosting a forum Thursday for local students to "voice their concerns" about the convention.
    Reconsideration of Justice Joseph's elevation not revenge says Ravi Shankar Prasad

    Reconsideration of Justice Joseph's elevation not revenge says Ravi Shankar Prasad

    At least three names, along with that of Justice Joseph, are likely to be cleared at the next collegium meeting, the sources said. Prasad noted that a Bharatiya Janata Party government was elected with a three-fourths majority a year ago .
    Trump 'Should Win the Nobel Peace Prize' Says President of South Korea

    Trump 'Should Win the Nobel Peace Prize' Says President of South Korea

    The Trump administration defines "denuclearisation" as Kim giving up his nuclear weapons, something he has been unwilling to do. At the same time, however, Trump said, "If it's not a success, I will respectfully leave". "Don't overthink the substance.
  • Kanye receives instant backlash for 'slavery is a choice' remarks

    Kanye receives instant backlash for 'slavery is a choice' remarks

    TMZ got Black Lives Matter activist, DeRay Mckesson, on the line to sound off on the seemingly unfactual comments by Ye. Charlamagne said he approached Kanye about the comments he made about slavery . "You hear about slavery for 400 years".
    Sonam Kapoor's wedding slated for May 8

    Sonam Kapoor's wedding slated for May 8

    Guess that's how the Kapoors have made a decision to maintain the secrecy around Sonam Kapoor's wedding by not revealing much. Now last Wednesday, Kapoor clan finally announces the marriage date with an official statement .
    Watch Michelle Wolf Roast Donald Trump Live At The White House

    Watch Michelle Wolf Roast Donald Trump Live At The White House

    I guess if Wolf had just called her performance " locker room talk ", the Trump supporters like Bolton would give her a pass. The comedian went on to explain the premise and delivery of her joke, insisting she was complimenting Sanders' appearance .


Most liked

Apple Reports Steady IphoneSales And Declares $100 Billion Buyback
In related news, insider Luca Maestri sold 39,122 shares of the firm's stock in a transaction that occurred on Friday, April 13th. The iPhone maker reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.04.

Two Black Men Teach the Country, Starbucks, and Kanye
They were taken to the police station and kept there for more than eight hours before they were released without charges. In a statement , Starbucks CEO Kevin Johnson thanked Robinson and Nelson "for their willingness to reconcile".

Warm, sunny Monday to kick off summery week
The temperature is expected to reach 87 degrees at Lehigh Valley International Airport, the weather service said. A south wind of 14 to 16 miles per hour , gusting as high as 29 miles per hour , is possible.

Showers, storms continue to move through Oklahoma on Thursday
New rainfall amounts between a tenth and quarter of an inch, except higher amounts possible in thunderstorms. The upper trough should go east and clouds will decrease and dew points will drop sharply Thursday night .

Basque separatists ETA announce full dissolution of group
Created in 1959 at the height of Francisco Franco's dictatorship, it is blamed for the deaths of at least 829 people. The disbanding arrived as bittersweet news for Inaki Garcia, whose father died at ETA's hands 38 years ago.

Trump says Democrat should quit over VA nomination brouhaha
Reuters also reviewed two years of audits of the White House medical unit pharmacy, which did not show any major issues. Ronny Jackson will not be returning to his old post as President Donald Trump's personal physician.

JUST IN: Casualties in Mubi mosque attack rise to 27
Nigeria's government and military have long maintained that Daesh group affiliate is a spent force and on the verge of defeat. Residents said they saw a young man wearing a suicide vest entering the mosque with the worshippers.

Trump wants African countries to support North American World Cup bid
The U.S. has put together a STRONG bid w/ Canada & Mexico for the 2026 World Cup. All 206 votes from member nations will be made public.

At least one killed after building burns down in Sao Paulo
There have been unconfirmed reports that there were people on the top floors when the building collapsed. Firefighters believe clearing the rubble, which was still smouldering hours afterward, could take days.

Adelaide loses worldwide cricket on Australia Day
The game between Australia and South Africa will be the only T20 of the limited overs series against the Proteas. For the first time, Test Cricket will be held at the state-of-the-art Perth Stadium and Canberra's Manuka Oval.

Russian Federation investigation wraps up but Dems keep digging
Sessions, including the attorney general's decision to recuse himself from the Russian Federation investigation and whether Mr. Trump has since added former New York Mayor Rudy Giuliani to his legal team to help deal with Mueller's investigation.

Ramos: No Real Madrid guard of honour for champions Barcelona
"The Copa (del Rey) is not the biggest award and La Liga is good but the Champions (League) is what generates excitement. However, a Lionel Messi free-kick dashed Atletico's hopes and allowed Barcelona to remain undisputed league leaders.

Rouhani tells Macron Iran nuclear deal 'not negotiable'
Macron and Rouhani agreed to work in coming weeks to preserve all aspects of the JCPOA. French media were quick to take notice.

Deal reached for rebels to evacuate southern Damascus' Yarmouk Camp
Fighting in the camp broke out in 2013 as some Palestinian factions sided with the Syrian regime and others with the rebels. The government aims to push them to leave the area for northern Syria under an evacuation deal.

Philadelphia police investigates arrest of 2 black men in Starbucks
Protesters outside that location faced police who tried to prevent them from entering, The Philadelphia Inquirer reported . The case of the two men received national attention after a video of their arrest posted on Twitter Thursday went viral .