Wells Fargo has recently had to begin a full probe into a crime that involved the theft of the identity information of thousands of customers. Between May and June of this year, a Wells Fargo access code was use to break into customer records of the company. This was not the fault of Wells Fargo, but rather, a company called MicroBilt which is a self proclaimed “industry leader in risk management information.” It was not until July 1 that MicroBilt informed Wells Fargo of the breach. Business between the two companies has since been terminated. The Secret Service has been notified and the recent incident is now under investigation. Around 5,000 are affected by this incident and customers are being made aware. This breach is largely attributed to MicroBilt not using high enough security technology to protect the information. When a company’s data involves highly sensitive, personal information, the very best technology must be used to protect it. In this case, it just was not good enough.

This entry was posted on Monday, August 18th, 2008 at 2:06 pm and is filed under Data Breach. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.