Syntagma Digital
Moneyizor
Money Finesse

Trashing Customer Data

There have been some high-profile security breaches and data losses in the news: banks and other financial institutions losing customer data, stores and retailers suffering data loss through hackers and in some cases, customer data just being thrown away.

Shred

Although it isn’t clear if this is a hoax or film of some janitors exhibiting an actual find, a video posted on YouTube has garnered a lot of attention in the news.

In the video, loan applications, account data and personal information on customers are found unshredded in the trash outside a J.P. Morgan Chase bank branch. Last year, Chase was in the news for accidentally throwing out tapes of sensitive data on 2.6 million customers who held Circuit City credit cards issued through Chase.

While the film is being called a hoax and a set-up by the SEIU (Service Employees’ International Union) which is currently trying to unionize security workers, the lesson about safe-guarding personal data is well-taken. Too often consumers themselves will dispose of sensitive bank receipts and credit card statements without first ensuring that they are shredded so that no personal information can be gleaned from them.

Americans continue to lose money to identity fraud and more victims lose more money each year.

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