Compliance » FDIC Berated For Data Lapse

FDIC Berated For Data Lapse

May 16, 2016

It wouldn’t be accurate to call it a hack, but just since October of last year seven employees who left the Federal Deposit Insurance Corp have taken data with them. The information included bank account numbers, and in some cases social security numbers, of tens of thousands of people. Appearing before a Congressional subcommittee, Lawrence Gross, the FDIC’s chief information and chief privacy officer, said the violations occurred during the process of the employees downloading their own information before closing down and were inadvertent, the result of the fact the personnel were not “computer proficient.” Congressional interrogators weren’t mollified, and the ranking Democrat on the subcommittee said Gross’s testimony “bogles the mind.” Individuals potentially affected by the breach haven’t been notified, but the FDIC said they would be and credit-monitoring services would be offered.

 

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