JP Morgan Chase has thrown out 2.6 million customer account details with the rubbish.
The bank’s Chase Card Services arm in the US was responsible for the latest data loss debacle to hit corporate America.
The lost details are for 2.6 million current and former Circuit City credit card account holders.
The computer tapes containing their personal information were mistakenly identified as trash and thrown out, said JP Morgan Chase.
Working with federal and local law enforcement agencies, Chase Card Services conducted an investigation and believes that the tapes, contained within a locked box, were compacted, destroyed and are buried in a landfill site where its trash was taken.
Chase said it “has been monitoring all of the affected accounts and has not identified any misuse of personal information connected to this occurrence. No other Chase accounts are involved in this incident.”
Rich Srednicki, chief executive officer of Chase Card Services, said, “We deeply regret that this has occurred and apologise to those impacted. We have found no evidence that the tapes or their contents have been accessed or misused. The privacy of our customers' personal information is of utmost importance to us, and we take the responsibility to safeguard this information very seriously.”
To prevent a similar incident in the future, said Chase, the company has strengthened a number of security procedures and is currently conducting a comprehensive review of all data storage and protection processes.
In addition, Chase will continue to closely monitor all affected accounts.
Notification to all affected individuals has begun and will take up to three weeks to complete, said the bank. A one-year, free credit monitoring service is being offered to individuals whose social security number was on the tapes.
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