Commerce Bank Reveals Nightmare Data Breach Scenario
There are different levels of threats when it comes to identity theft. Commerce Bank has revealed the nightmare data breach scenario for banks and customers alike.
Employee Goes To The Dark Side
What is the worse fear of any bank and its customers when it comes to identity theft? How about an employee giving out customer information? Commerce Bank, located in Philadelphia, has just experienced the problem.
Commerce is reporting that it has discovered an employee based data breach of its customer security system. Specifically, an employee apparently gave out the personal and financial data to others. The bank has acknowledged this, but given no specifics on what happened, how it discovered the problem and so on. Police are investigating, so it may be a case of not wanting to say too much until all the people involved are picked up.
What we do know is Commerce Bank is trying to spin this nightmare as no big thing. The bank argues that only a small number of customers are impacted, but refuses to say how many which makes its claims a bit dubious.
The bank is also trying to say there is no clear indication that the information is being used for nefarious purposes. This spin effort falls flat on its face. Can you think of any innocent reason a person might be giving out information on bank customers? Me neither.
If you have accounts at Commerce Bank, you should be very concerned about your files being used for identity theft purposes. The bank has sent out notices to impacted customers, so make sure to keep an eye out for anything in the mail.