Australia’s Commonwealth Bank loses records of nearly 20-million customers
Sydney — Australia’s troubled Commonwealth Bank admitted on Thursday that it had lost financial records for almost 20-million customers in a major security blunder — but insisted there was no need to worry. The nation’s biggest company said it could not find two magnetic data tapes that stored names, addresses, account numbers and transaction details from 2000 to 2016. National broadcaster ABC said the records were supposed to have been destroyed by a sub-contractor after the decommissioning of a data centre, but the bank never received documentation to confirm this happened. The lender assured customers there was no need to worry as the tapes did not contain passwords, PINs or other data that could be used for fraudulent purposes. It said in a statement after the incident was exposed by Australian media that an independent forensic investigation in 2016 "determined the most likely scenario was the tapes had been disposed of". It said the issue was not cyber-related and there was no...
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