Establishing Digital Trust: Don't Sacrifice Security for Convenience
TD Bank has admitted that it lost unencrypted backup tapes containing the account information and Social Security numbers of more than 267,000 customers.
"The bank told customers that two tapes disappeared in transit while being shipped to one of its [locations] in March," writes The Boston Globe's Todd Wallack. "The company has not been able to find the tapes."
"The tapes may have included names, addresses and Social Security numbers," writes The Nashua Telegraph's David Brooks.
"The loss of these tapes potentially puts the personal information of thousands of Massachusetts consumers at risk, and we remind consumers to take appropriate steps to protect themselves," Massachusetts Attorney General Martha Coakley said in a statement. "We will be reviewing the circumstances of this breach and the steps that TD Bank is taking to address the loss."https://o1.qnsr.com/log/p.gif?;n=203;c=204650394;s=9477;x=7936;f=201801171506010;u=j;z=TIMESTAMP;a=20392931;e=i
"A TD Bank spokeswoman said it took six months to notify customers because the bank was investigating the incident," writes BankInfoSecurity's Jeffrey Roman. "'We wanted to conduct a diligent search and full investigation of the situation before reaching out to impacted customers,' she said."
"Some customers have complained that TD Bank should have told them sooner that their data was lost, putting them at risk of identity theft," writes Bangor Daily News' Lindsay Tice.
"TD Bank says it is unaware of any misuse of personal information at this time, but it cannot rule out that possibility," The Boston Herald reports.
"The 'misplaced' tapes could cost TD Bank nearly $43 million, or $160 per compromised data entry, the Ponemon Institute, a non-profit Michigan information security organization, sai," UPI reports. "TD Bank is the U.S. subsidiary of Toronto-Dominion Bank of Canada. It operates branches in most of the northeastern states and Florida."