The Commonwealth Bank lost 10 years of banking records

As reported on BuzzFeed, the Commonwealth Bank of Australia lost backup tapes holding ten years (2004-2014) of banking records for up to 12 million customers. If you’re a customer of the Commonwealth Bank, and haven’t already been turned off by the stories coming out of the Royal Commission, then you should take this as the last straw and change banks. Make sure you tell them why.

It is unacceptable that they took so long to notify the regulators what happened.

It is unacceptable that the regulators didn’t take further action.

It is unacceptable that they never informed their customers.

It is unacceptable that the backups were not encrypted.

It is unacceptable that the actual data used by the CBA day-to-day was not (and presumably still is not) encrypted at rest.

It is completely unacceptable that they are so lax with customer data that they send it out, unencrypted and un-erased, and can’t even track the movements of the backup tapes.

This is completely and totally irresponsible. This can not be tolerated by such a major financial institution.

Find a better bank. One that doesn’t treat their customers like mushrooms.

Author: Robert Watkins

My name is Robert Watkins. I am a software developer and have been for over 20 years now. I currently work for people, but my opinions here are in no way endorsed by them (which is cool; their opinions aren’t endorsed by me either). My main professional interests are in Java development, using Agile methods, with a historical focus on building web based applications. I’m also a Mac-fan and love my iPhone, which I’m currently learning how to code for. I live and work in Brisbane, Australia, but I grew up in the Northern Territory, and still find Brisbane too cold (after 22 years here). I’m married, with two children and one cat. My politics are socialist in tendency, my religious affiliation is atheist (aka “none of the above”), my attitude is condescending and my moral standing is lying down. View all posts by Robert Watkins