We see many data breaches on the news but the largest bank in Australia has confirmed that it has lost data of 12 million customers after the magnetic tapes containing a back up of their personal financial history has gone missing. While the issue was revealed publicly last week, it took place in 2016 when the Commonwealth Bank hired a subcontractor to destroy the backup tapes while they were decommissioning a data center. The bank investigated the incident and after it didn’t get acknowledgement about destroying the data tapes. The bank hired the accounting firm KPMG to locate the missing tapes. KPMG explored the issue and was unable to locate the missing tapes, the company even thought of a possibility that drives weren’t secured properly for transport and had actually fallen off a truck. The bank told the customers that KPMG concluded that the tapes had probably been destroyed… 

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