Posted on 24/01/07
What you don't know can hurt you
When Canadian Imperial Bank of Commerce stepped forward last week and revealed it had lost a hard drive containing information on almost half a million mutual fund customers, it incited some predictable hand-wringing. How do sensitive computer files simply disappear from an office? How did CIBC, a bank that was sanctioned for lax privacy systems a scant two years ago, mess up yet again? And, most important, how prevalent have these sorts of security breaches become in the age of online banking and debit transactions?
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