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02 June 2008, 12:41

New York Mellon Bank loses millions of customer records

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The US media have disclosed that the Bank of New York Mellon has lost unencrypted data tapes containing over 4.5 million customer records. The tapes, belonging to the bank's Shareowner Services division, went missing from a truck on April 29 while in transit between Philadelphia and Pittsburgh in the hands of a commercial carrier. The tapes contained scanned documents relating to transactions by institutional clients.

Those affected by this data loss include customers of around 47 corporates including Walt Disney, Eastman Kodak and Alcatel-Lucent. However, it has been stated that shareholders only, rather than consumer customers of these corporates are at risk. The bank asserts that there is no evidence so far of the data being misused, but is arranging fraud protection cover of up to $25,000 for its affected customers, plus two years of free credit reports.

This is the second data loss from the Bank of New York Mellon this year – on February 27 a box of the bank's unencrypted client data went missing in transit while in the hands of Archive America, New Jersey. On that occasion some 4 million customers were affected.


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