Scandal broke out in Australia’s largest bank, lost data of 2 million accounts

commonwealth bank australia

Commonwealth Bank of Australia has accepted the loss of bank records of nearly 20 million people.

Canberra: Australia’s Commonwealth Bank has acknowledged the loss of nearly 20 million bank records. According to the reports, the data contained the account holders’ names, account numbers, addresses and other details, which was stored in two magnetic tapes, which was destroyed by a contractor in 2016. When the tapes were actually destroyed and no evidence related to the accounts was found, the bank did not ask the customers to misuse the data. This is the latest scam of Australia’s largest lender.

In his statement on the Australian Stock Exchange, the bank said that he can not confirm that the 15-year-old data tapes were completely destroyed. But it was said that an independent forensic investigation was done to determine the most probable conditions for disposal of the tape by the accounting firm KPMG.

It said that ‘tape had no password, PIN or other data, which could be used to scam through account. ‘Commonwealth Bank’s executive chief of the banking banking angus Sullivan described the incident as “unacceptable” and apologized for the’ inconvenience and anxiety ’caused by this incident to consumers.

Lisa Adams

Lisa is an independent writer and former social policy researcher. She writes on food, agriculture and geopolitics As a reporter for WNL, Lisa covers science and environmental stories.. Originally from the UK, Lisa has spent many years in India where she has written for various publications, most notably the Bangalore-based Deccan Herald for 10 years.

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