SBS FINANCE | CBA has lost 19.8m bank account records

author Ricardo Goncalves   11 мес. назад
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Commonwealth Bank loses details of 20 million accounts

The Commonwealth Bank has been forced to make not one, but two public apologies to customers this week. First the banking regulator issued a damning report that the bank was complacent, not attuned to customers' complaints and not properly concerned about risk. Now, the Bank's rolled straight into another crisis, admitting it lost the financial statements of 20 million accounts spanning more than 15 years. Not only did it lose control of the personal data of its customers, the Bank then chose to conceal that from them until the story was broken this morning by Buzzfeed's Paul Farrell. He filed this guest report for 7.30. Read more here: http://www.abc.net.au/news/2018-05-02/commonwealth-bank-confirms-loss-financial-records-20m-customers/9720928 For more from ABC News, click here: http://www.abc.net.au/news/ Follow us on Twitter: http://twitter.com/abcnews Like us on Facebook: http://facebook.com/abcnews.au Subscribe to us on YouTube: http://ab.co/1svxLVE Follow us on Instagram: http://instagram.com/abcnews_au

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The Commonwealth Bank has lost nearly 20-million bank account records and has taken two years to tell the public.

The bank says two magnetic tapes which contained historical customer statements were supposed to be destroyed by a supplier in April 2016 but it can't guarantee, that's happened.

SBS Finance Editor Ricardo Goncalves explains.

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