There's no business like the credit data business, like no business full of security holes

<![CDATA[ – Citigroup Says Data Lost On 3.9 Million Customers:

Citigroup Inc. said that computer tapes containing personal information on about 3.9 million customers were lost by United Parcel Service Inc. while in transit to a credit-reporting bureau.

The tapes included information about CitiFinancial customers in the U.S., as well as customers with closed accounts from its CitiFinancial retail-services unit. The tapes didn’t contain any customer information from the financial giant’s auto, mortgage or any other Citigroup business, or its CitiFinancial customers in Canada or Puerto Rico.

Mmmm, that’s good security and cutting-edge data transmission! First off, it’s just good to know that UPS provides the same stellar service to big companies that it does to us little guys, but, geez, what could have happened to the tapes? It was stolen? Lost? What the hell is Citigroup doing moving data by tape-and-truck in an age when data security is supposed to be improving? Every time I hear about a tape falling off the back of a truck I wonder why it wasn’t sent on a DVD, with the savings in weight spent to ensure better security.]]>

2 replies on “There's no business like the credit data business, like no business full of security holes”

A CD/DVD can fall off a truck just as easily as a tape. Physical media is NOT the answer, and a fax is not as secure as a reasonable file transfer. A DVD or USB Drive is just a higher tech tape. Data transfer over SHS or other VPN or an old fashioned Point to Point line can be monitored , delivery is faster, issues with de-magnitized tapes, cracked tapes, etc are avoided. It’s the 21’st century, scary to see that a company like that is still using 80s technology. It was better in 92 when I struggled to kermit files over a new technology called a modem. With today’s technology, moving data via delivered tape is astounding.