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Tape with bank records ‘lost'

By Richard Reeder


This document was published online on Wednesday, August 20, 2008

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A computer data tape with customer information from five new Wells Fargo banks is missing.

Banks involved are Shoshone First Bank in Cody and Powell, Jackson State Bank & Trust, Sheridan State Bank, First State Bank of Pinedale and United Bank of Idaho in Driggs.

“The tapes were being transported from one bank site to another,” SFB executive vice president Glenn Ross said. “When they (staff) arrived at the site they discovered the tape was missing.”

The information on the computer tape included names, addresses, Social Security numbers and account numbers.

“The tapes may have contained account balances and phone numbers, but we can't say they specifically had that information for all customers,” Ross added.

The tape contained information from all five banks in the former United Bancorporation, which has recently been sold to Wells Fargo.

“Customers from all (United Bancorp) banks were affected,” Ross said. “But we can definitely say this wasn't a theft.

“The tape was lost in transit,” he added. “People can feel safe the information wasn't stolen.”

The information on the tapes would be difficult for anyone to access and use.

“The equipment used to access the tapes is special to this task,” Ross said. “You can't just plug this into a computer and run it.

“We believe people can feel safe their information won't be misused,” he added. “But we encourage all customers to monitor their accounts, check for transactions they didn't authorize and report anything out of the ordinary to us right away.”

Ross declined comment on how many customers might be affected.

“We have contacted law enforcement and they are assisting us in investigating the loss,” he said. “We don't want to divulge any information that might jeopardize the investigation.

“It's standard to report this type of loss to the authorities and we followed that procedure,” he added.

Customers will be notified by mail prior to Sept. 5 and eligible customers will be offered one free year of identity theft protection.

“We work hard to make sure these types of things don't happen by constantly evaluating safeguards and procedures,” Ross said. “But sometimes things happen and we apologize and work to correct the mistakes and care for our customers.”
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Reader Comments

Clarity... wrote on Aug 26, 2008 12:51 AM:

" Although data stored on tapes needs to be restore on tape libraries, given the LTO standard (e.g. Linear Tape-Open (or LTO) is a magnetic tape data storage technology originally developed in the late 1990s as an open standard), it would not be that hard to read the data off any tape library. Most thiefs understanding the value of this information can easily find a tape library to read and restore stored on tapes. As such, given the large amount of customers being affected, these breaches should be taken more seriously as they are eroding our confidence in the banking system. Why should we keep on providing our personal information and hard earned money to companies acting irresponsibly? "

joni wrote on Aug 25, 2008 12:30 PM:

" I sure am glad I don't have my money in Wells Fargo bank (aka: Shoshone First Bank) !!!! "

Muni wrote on Aug 24, 2008 10:43 AM:

" Wells Fargo is no different than any other big corporate enterprise. They have to make money and profits, other wise you have socialism. Look at the biggest elctrical power company in the state, owned by the richest man in the world, all about profit, two rate increases in two years, huge manager bonus's. They are all the same. "

Dean C. wrote on Aug 22, 2008 9:36 PM:

" I'm glad that I opted out before Wells Fargo took over... "

toldyouso wrote on Aug 22, 2008 8:59 AM:

" Hmmm...the mind of the bank where nothing will be different. Was it not just a few months ago that Wells Fargo was all about he community? Now the true colors show. You were warned. "

old grouch wrote on Aug 22, 2008 8:43 AM:

" Once I lost my car keys. No one stole my car. I never did find the darn keys however. "

Lone Rider wrote on Aug 21, 2008 8:20 PM:

" Wells Fargo certainly does not seemed to concerned about the "lost data" on all their customers being used unlawfully. I'm sure that all those customers whose personal ientification abd bank account information were on that tape probably don't feel as unconcerned as their bank is. "

cavalier wrote on Aug 21, 2008 10:30 AM:

" What an attitude...I lost critical data...but it's OK. Maybe it's time to re-evaluate where my accounts are! "

way to go wrote on Aug 21, 2008 6:21 AM:

" whooops!! "

 

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