Data at Bank of America, Wachovia, others compromised – May. 23, 2005

NEW YORK (CNN/Money) – Bank of America Corp. and Wachovia Corp. are among the big banks notifying more than 670,000 customers that account information was stolen in what may the biggest security breach to hit the banking industry.

Social Engineering and greed …. again. sigh…

Customer account numbers and balances were allegedly sold to Lembo, who then sold the information to collection agencies, the Hackensack police department said in a statement.

Wachovia customers whose account information was stolen have received complimentary one-year credit monitoring service and each account will also be monitored by the bank, a Wachovia spokesman told CNN, adding that two former Wachovia employees have been charged in the case.

Bank of America spokeswoman Alexandra Liftman said the bank was notifying customers affected, but added there was no evidence of account fraud or identity theft. Customers affected would be offered free credit monitoring, she said, adding Bank of America is cooperating with law enforcement officials and conducting its own internal investigation.

One associate who was named by police is “no longer with the bank,” Liftman said.

As if the Internet privacy issues weren’t enough of a hurdle for folks to deal with.

Thanks to Adam for sending me this link.

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