Fergie's Tech Blog

Bank of Ireland Kept Quiet About Stolen Client Details Since February

Ciaran Byrne and Joe Brennan write on Independent.ie:

Bank of Ireland managers knew in early February that thieves had stolen personal data on 10,000 customers, but decided not to tell the authorities.

And even after the security breach was uncovered internally, the bank took no steps -- until yesterday -- to begin encrypting its laptop computers.

Despite making a profit of €1.7bn last year, Bank of Ireland's failure to spend an estimated €200,000 on encryption technology to protect its customers' data has caused shock.

The technology is used by all of its major banking rivals but Bank of Ireland's lack of investment in such a key area of basic security is a source of deep concern, experts said.

posted by Fergie @ 4/22/2008 11:05:00 PM