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State Street: Data stolen from vendor
From: "Richard M. Smith" <rms () computerbytesman com>
Date: Fri, 30 May 2008 07:20:39 -0400
http://www.boston.com/business/personalfinance/articles/2008/05/30/state_str eet_data_stolen_from_vendor/ State Street Corp. <http://finance.boston.com/boston?Page=QUOTE&Ticker=STT> said yesterday that a disk drive containing personal details from 5,500 employees and 40,000 customer accounts was stolen from the office of another firm hired for data analysis. The incident could leave individuals open to identity theft and is the latest example to show how financial companies can be vulnerable to the physical loss of devices storing information, no matter how strong their online safeguards. State Street is offering free credit monitoring services for two years to people whose data were compromised, in line with other banks in similar situations. A spokeswoman for State Street of Boston, the world's largest institutional asset manager, said the compromised information was among a batch of data sent to the analysis firm, which she declined to identify except to say it was in the United States. At the time of the transfer, the data were encrypted, making it much more difficult to misuse. But the firm had unencrypted the information for its work and stored it on the hard drive that was then stolen, said spokeswoman Carolyn Cichon. ...
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