Australian bank lost data of 20m accounts

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Australia’s Commonwealth Bank has admitted losing the bank records of almost 20 million people.

Names, addresses, account numbers and instructions were stored on two magnetic tapes, which were destined to be destroyed by a sub-contractor in the year 2016.

But in spite of not receive, evidence that the tapes had actually been destroyed, not to say the bank, the customer was a potential problem.

The injury is the latest scandal of Australia’s largest lenders.
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In a notice to the Australian Stock Exchange, the bank said it could not confirm that the tapes had been destroyed 15 years of data.

But it said, “an independent forensic investigation” by the accounting firm KPMG “determined was the most likely scenario was that the tapes had to have been disposed of.”

To enable, she added, “the tapes did not contain any passwords, PINs or other data that could be used, account fraud”.

And he stressed that it had no evidence that customer at risk was information, with monitoring mechanisms, the other in power.

Buzzfeed for the first time, news of the lost tapes, is reported to demand that they should be destroyed, from Fuji Xerox, which after the decommissioning of a data center. ‘Unacceptable’

The Commonwealth Bank’s acting head of retail banking, Angus Sullivan, described the incident as “unacceptable” and apologized for any inconvenience and worry,” the incident caused customers could have.
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The violation of privacy comes at a time when the Australian banks landmark banking inquiry Committee are under intense scrutiny.

In the last month the inquiry heard that the Commonwealth bank charges from customers, they knew, had died. In one case, a consultant fees from a former client for more than a decade.

Australia’s Treasurer, Scott Morrison has warned that financial executives could be met with strong sanctions, including jail, of evidence brought up in the investigation.