Breach, Data Security, Incident Response, TDR

BNY settles with Connecticut

Bank of New York Mellon has agreed to pay the state of Connecticut $150,000 and extend credit monitoring for victims another year, to a total of 36 months, as a result of a data breach reported last April that affected 600,000 residents of the Constitution State. An unencrypted backup tape holding the personal information of about 4.5 million bank customers disappeared three months earlier while in possession of a third-party vendor. Connecticut officials were outraged victims didn't learn about the incident sooner. The settlement was announced earlier this month. — DK

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