Sunday, 21 October, 2018

Australian Bank Lost 12M Customer Financial Histories In 2016

CBA's acting group executive for retail banking services Angus Sullivan sought to assure customers their information had not been compromised after an online article about the incident was published on Wednesday Commonwealth Bank admits it LOST the personal financial statements of almost 20 million customers two years ago and didn't say anything until now
Elsie Buchanan | 03 May, 2018, 10:22

If you're with Commonwealth Bank, sorry dude - it turns out the bank actually lost its data on 12 million customers two years ago, and didn't bother to tell you.

The bank confirmed a May 2016 incident when it was unable to confirm the scheduled destruction of two magnetic tapes with customer statements.

Despite not receiving evidence the tapes had actually been destroyed, the bank did not tell customers there was a potential data breach.

KPMG determined that the likely scenario was that the tapes had been disposed of.

The tapes held customer details including names, addresses, account numbers and transactions for 19.3 million accounts from between 2000 and 2016. Sullivan assured the customers of the bank that no personal data had been compromised and so no action is required from their side, including changing passwords or PIN numbers.

The Commonwealth Bank's acting head of retail banking, Angus Sullivan, described the incident as "unacceptable" and has apologised for any "inconvenience and worry" the incident may have caused the customers.

The latest revelations cap a troublesome few months for the Commonwealth Bank.

Facebook continues AR push with tracking, audio and location tools
Sephora for example will allow users to try on some make-up looks, and then share photos or videos with their Facebook friends. M Suggestions now operate in 11 countries and are available in English, German, Spanish, French, and Thai.


CBA has now released a statement to its customers via email addressing the situation and assuring them that there's "no evidence of customer information being compromised" and that "customers do not need to take any action".

"When we look back now, the decision that was made at the time has probably been borne out to be a good decision in as much that the data hasn't turned into fraudulent activity".

Commenting on the incident, the Australian Prudential Regulation Authority said that community trust in CBA had been "badly eroded" and the bank had "fallen from grace".

But BuzzFeed News clarified with Porter's office that he was informed about the incident on Tuesday night, after BuzzFeed News had begun making inquiries with Commonwealth Bank about it.

Under the new banking laws, which became effective in February, it is the duty of the financial institution to notify all Australians affected by a major data breach within 30 days.

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

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

Recommended

  • 23 civilians said to die as ISIS area in Syria hit

    23 civilians said to die as ISIS area in Syria hit

    The latest fighting has displaced around 5,000 civilians from Yarmouk into the neighboring area of Yalda, the United Nations said. The Department regrets that in the end of attack of the aircraft was destroyed by a civilian.
    Rs 1-L cr GST collection in April a record

    Rs 1-L cr GST collection in April a record

    Jaitley said increased tax collections will help the nation to "expand its economic horizons" and "take it to loftier heights". The rise in GST revenue could also be linked to the rollout of e-way bills, according to experts.
    The surprise in Apple earnings

    The surprise in Apple earnings

    Along with the new authorization, the Board of Directors has also approved a 16% increase in the company's quarterly dividend . HomePod sales weren't broken out and neither Cook nor CFO Luca Maestri had much to say about Apple's new smart speaker.
  • US delays metals tariffs on EU, Canada & Mexico

    US delays metals tariffs on EU, Canada & Mexico

    Trump's administration has been trying to coax other involved countries into meeting similar quotas, but with less success. The EU has said if it loses its exemption it will retaliate with its own tariffs on USA goods imported to Europe.
    TV academy reviewing Bill Cosby's Emmys, Hall of Fame honor

    TV academy reviewing Bill Cosby's Emmys, Hall of Fame honor

    Columbia, S.C. (WOLO)- The University of South Carolina's board of trustees is considering revoking Bill Cosby's honorary doctorate.
    France's Macron starts trip to Australia focusing on defense

    France's Macron starts trip to Australia focusing on defense

    A tree gifted to US President Donald Trump by French President Emmanuel Macron has disappeared from the White House . A TREE planted on the White House lawn as a symbol of friendship between the USA and France has disappeared.
  • Hospital treating 7 people injured in explosion

    Hospital treating 7 people injured in explosion

    It is understood the individual took his wife and family hostage - police and SWAT teams had been negotiating with the man. Additional police rushed to the scene as the fire raged, and sounds of smaller explosions also were heard.
    The Two Men Arrested at Philly Starbucks Settle for $1

    The Two Men Arrested at Philly Starbucks Settle for $1

    Nelson and Robinson will not receive any of that money, he said. In a video message , Johnson said, "I will fix this". It includes a confidential financial settlement.
    Trump reimbursed lawyer for payment to porn star: Giuliani

    Trump reimbursed lawyer for payment to porn star: Giuliani

    In the same interview, Giuliani also called ex-FBI Director James Comey a " disgraceful liar", and said he thinks Comey should be prosecuted.
  • Model 3 production issues are burning through Tesla's cash

    Model 3 production issues are burning through Tesla's cash

    As a point of reference, Tesla during the recent December quarter posted revenue of $3.29 billion and a loss of $675 million. One example: Musk said Tesla had a very complex robot created to put fiberglass mats on top of the Model 3's battery packs.
    Lobbyist Helped Plan Pruitt's $100K Morocco Trip, Profited After

    Lobbyist Helped Plan Pruitt's $100K Morocco Trip, Profited After

    The agency told The Post , it did not know of Smotkin's ties to the country's government. Last week, Pruitt faced extensive questioning before two House committees.
    Xiaomi IPO Will Be Huge

    Xiaomi IPO Will Be Huge

    The company is now at the fourth position in the smartphone market globally, behind Samsung, Apple and Huawei. Xiaomi CEO Lei Jun has steered his company to possibly the world's biggest IPO since 2014.

DOJ Charges 11 Migrants with 'ILLEGAL ENTRY — CARAVAN' CHAOS DOJ Charges 11 Migrants with 'ILLEGAL ENTRY — CARAVAN' CHAOS First to try was a man and his small nephew, a football under his arm; then a mother and child; then a woman with her grandsons. Sessions has said those caught sneaking in will now in many cases face prosecution for illegal entry - a misdemeanor crime.

Fed leaves interest rates unchanged Fed leaves interest rates unchanged The Fed also indicated that inflation has firmed, coming closer to the Fed's two percent target. While US Treasury bond yields are rising today, this is having a limited impact on gold.

'A Simple Favor' Teaser Asks "What Happened to Emily?" 'A Simple Favor' Teaser Asks When Emily goes missing Stephanie has to put the pieces together herself. "I realized I don't really know her as well as I thought I did".

Southwest Flight Makes Emergency Landing in Cleveland Due to Broken Window Southwest Flight Makes Emergency Landing in Cleveland Due to Broken Window The timing of the incident could hardly be worse for the airline, the fourth biggest in the United States. The window on the flight that landed in Philadelphia blew out after being hit by a loose engine part.

Lords 10 Commons 2: Peers deal Theresa May another Brexit blow Lords 10 Commons 2: Peers deal Theresa May another Brexit blow Former Unionist MP John Taylor has commented on Leo Varadkar's alleged lack of manners as "typical Indian" behaviour. Lord Kilclooney said the tweet was "not racist" but "shorthand for an Indian surname which I could not spell".

Pak-origin MP Sajid Javid appointed new United Kingdom home secretary Pak-origin MP Sajid Javid appointed new United Kingdom  home secretary But it's her successor Amber Rudd who's now fallen after The Guardian exposed proof of the quotas Rudd denied knowing about. The British government says they will be allowed to stay and has promised to set up a simple no-fuss registration process.

Japanese prime minister in Israel on official visit Japanese prime minister in Israel on official visit President Mahmoud Abbas and his guest, Japanese Prime Minister Shinzo Abe, inspecting the honor guard in Ramallah. Abbas threw his weight behind Tokyo's policy toward North Korea, according to the officials.

Myanmar army chief denies rape of Rohingya Myanmar army chief denies rape of Rohingya Myanmar should move forward with the repatriation of the refugees according to its agreements with Bangladesh, said Hasina. Suu Kyi's office also said in a statement that cooperation was needed from Bangladesh on the repatriation of refugees.

Basque separatist group ETA announces full dissolution Basque separatist group ETA announces full dissolution Speaking shortly before ETA's announcement Wednesday, the COVITE group that represents victims said it wanted more. The letter was dated April 16 but was only made public on Wednesday.

Military cargo plane crashes in Georgia, killing at least 5 Military cargo plane crashes in Georgia, killing at least 5 Captain Jeff Bezore, a spokesman for the Georgia Air National Guard's 165th Air Wing, said the crash killed at least five people. As the smoke dissipated, he said, helicopters buzzed around the crash scene, and fire trucks continued to rush toward the scene.

Giuliani outlines conditions of a potential Trump-Mueller interview Giuliani outlines conditions of a potential Trump-Mueller interview One person familiar with the legal team said Flood's selection came in part because the investigation has reached a pivot moment. The biggest change, Cobb's departure removes the strongest voice the president heard on a daily basis not to fire Mueller.

Pamela Gidley, 'Twin Peaks: Fire Walk With Me' actress, dead at 52 Pamela Gidley, 'Twin Peaks: Fire Walk With Me' actress, dead at 52 The actress is survived by her mother, her brothers, and her nephews and nieces. "Love to her family", Jonathan Lipnicki wrote. I remember being in bed (I was 17) and hearing the radio come on saying that the Challenger had just exploded.

Grand Ledge HS Senior Leads Pro-Second Amendment Walkout Grand Ledge HS Senior Leads Pro-Second Amendment Walkout Several hundred schools across the country planned to participate in the walkout, according to a map produced by the organizers. On Wednesday morning, about 40 students joined Thorup in a demonstration of their own: Standing for the Second Amendment.

Terror strike on Libyan electoral commission leaves at least 7 dead Terror strike on Libyan electoral commission leaves at least 7 dead Elections in 2014 were disputed, resulting in rival governments backed by competing military alliances in Tripoli and the east. A group of militants, including at least two suicide bombers, stormed the building and set fire to it.

Release of Americans held in North Korea 'imminent,' source says Release of Americans held in North Korea 'imminent,' source says Both Moon and Kim agreed to cease their audio battle as part of a three-page joint declaration signed by the leaders Friday . South Korean President Moon Jae-in has said Trump should receive the Nobel Peace Prize, the Republicans' letter noted.