Australian Information Security Incident Reported: May 02 2018

The Commonwealth Bank lost the personal financial histories of 12 million customers, and chose not to reveal the breach to consumers, in one of the largest financial services privacy breaches ever to occur in Australia.

While the issue was revealed publicly last week, it took place in 2016 when the Commonwealth Bank hired a subcontractor to destroy the backup tapes while they were decommissioning a data center. The bank investigated the incident and after it didn’t get acknowledgement about destroying the data tapes.

“The tapes did not contain passwords, PINs or other data which could be used to enable account fraud,” it said.

Source: Australia’s Largest Bank Lost The Personal Financial Histories Of 12 Million Customers