Want to share with your friends too?

World
17 Dec 2016

Australian Bank accidentally reveals information of account holders

Over 60,000 account holders of the National Australia Bank (NAB) have had their account information revealed to an outside party.

NAB mistakenly sent across information like names, addresses and other details of 60,000 migrant banking customers to an incorrect email address.

Sending details of these newly opened bank accounts to the wrong recipient is being blamed on "human error".

In context

Thousands of Australian bank accounts compromised

Who were impacted?

Accounts that were impacted had been opened by NAB's migrant banking team: customers had opened their accounts while they were residing overseas, before migrating to Australia. The error doesn't impact customers who opened their accounts in Australia.

Repercussions of the error

How bad is it?

Repercussions of the error

At the moment, it's believed, that no money has been lost so far due to NAB compromising details of thousands of bank accounts.

Reportedly, over 40 percent of these accounts were either closed or have not been used much most of this year.

Nearly 19,000 accounts out of the 60,000 had account balances of less than $2.

Love World news?

Stay updated with the latest happenings.

Notify Me

Intimation

Measures taken by NAB

NAB has already notified the 60,000 account holders, that their account establishment details had been sent to the wrong recipient.

The bank also informed its customers that an internal check had revealed this error made by the bank.

NAB further assured them that the bank would monitor these accounts 24/7 for any unusual activity.

NAB apologizes

"We take the privacy and the protection of our customers' personal information extremely seriously. We also take full responsibility and we sincerely apologize to our customers for this mistake"

NAB working with experts

Steps taken

NAB working with experts

NAB has engaged a cybercrime and forensic specialist, US firm Stroz Friedberg, who has worked on high profile cases like hacking attacks on Yahoo and Sony.

Court documents reveal that NAB launched a court action against Google to assist it with the wrongly sent emails.

NAB is also working with regulators like Office of the Australian Information Commissioner and Australian Securities and Investments Commission.

Ask NewsBytes
User Image

Next Timeline