Bank Data Breach Could Affect More Than 12 Million Customers

Last week, the Bank of New York Mellon reported that a data breach discovered earlier this year may affect more customers than they originally anticipated. The bank reported back in May that back-up storage tapes from Bank of New York Mellon shareowners service had been "lost," exposing millions to potential identity theft, and notifications were sent to the 4.5 million people whose information was believed to be on the back-up tapes. After further investigation, the bank announced that the number of individuals affected may be as high as 12.5 million.

The bank has taken steps to enhance security and has instituted stringent new standards for the transport of personal data, but this is probably no comfort for those whose data has been compromised. The Bank of New York Mellon is offering affected customers two years of free credit monitoring through Experian as well as identity theft insurance and reimbursement for the placement and removal of a credit freeze on credit reports.

Affected customers can find more information at a website that the Bank of New York Mellon has dedicated for the purpose of informing customers of the data breach and what they are doing about it. Those concerned about the breach and possible identity theft should visit the website and contact the bank if you have more questions.