Data Theft Involving Collection Agencies Could Affect 500,000 Customers

By Todd R. Weiss, ComputerWorld

Electronic account records for some 500,000 banking customers at four different banks were allegedly stolen and sold to collection agencies in a data-theft case that has so far led to criminal charges against nine people, including seven former bank employees.

Police in Hackensack, N.J., are continuing their investigation into the theft by a crime ring that apparently accessed the data illegally through the former bank employees.

According to the U.S. Department of the Treasury, the crime is believed to be the largest breach of banking security in the U.S., local police said.

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