{"id":3523,"date":"2018-05-03T00:00:00","date_gmt":"2018-05-03T00:00:00","guid":{"rendered":"https:\/\/cms.smooth.com.au\/uncategorised\/comm-bank-customers-are-potentially-risk-shocking-new-revelation\/"},"modified":"2018-05-03T00:00:00","modified_gmt":"2018-05-03T00:00:00","slug":"comm-bank-customers-are-potentially-risk-shocking-new-revelation","status":"publish","type":"post","link":"https:\/\/cms.smooth.com.au\/news\/comm-bank-customers-are-potentially-risk-shocking-new-revelation\/","title":{"rendered":"Comm Bank customers are potentially at risk in shocking new revelation"},"content":{"rendered":"

Buzzfeed News<\/a> have uncovered an absolute whopper of a whoopsie swept under the rug by Commonwealth Bank.<\/p>\n

The publication revealed yesterday that the top four bank lost the personal financial histories of 12 million customers, and chose not to reveal the breach despite being one of the largest ever to occur in Aus.<\/p>\n

Since Buzzfeed News uncovered the story, the bank has admitted it lost financial statements for a decent chunk of time between 2004 and 2014. <\/p>\n

The loss itself occured in 2016 when a subcontractor (Fuki Xerox) seemingly misplaced the data stored on tape drives. <\/p>\n

“Backup magnetic tape drives of financial statements were believed to have been sent to be destroyed. But when a “destruction certificate” for the data wasn’t found on 9 May 2016, the Commonwealth Bank initiated an investigation to find out what happened to the data,” the report reads.<\/em><\/p>\n

“The bank notified the OAIC – which regulates privacy in Australia – On 20 May 2016 and told the regulator what had occurred.<\/em><\/p>\n

The bank then undertook significant steps to attempt to retrieve the information. BuzzFeed News understands that after the breach was discovered, the company spent a number of weeks formulating a range of potential responses. It formed a remediation task force from within the bank\u2019s ranks and called the team ‘Project Chesapeake’. Details were known to 150 people in the organisation.”<\/em><\/p>\n<\/blockquote>\n

One theory suggested by a forensic team from accounting firm KPMG was that the tapes might have fallen off the back of a truck taking the data to be destroyed.<\/p>\n

But the data was never located either on the road (no, reallly, they looked there) or on the dark web.<\/p>\n\n

While the bank says the lost data did not include customers\u2019 passwords or PINs and there was no evidence the information had been compromised. <\/p>\n\n

But the data was never recovered. To this day, the bank doesn't know what happened to those tape drives. And it decided not to tell customers. So we're telling you now.<\/p>— Paul Farrell (@FarrellPF) May 2, 2018<\/a><\/blockquote> \n