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Yet more problems with tape. Even the largest most organised of companies can not run a tape system without errors.

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Citibank admits: we've lost the backup tape
By Andrew Orlowski

Published Tuesday 7th June 2005 09:06 GMT

The retail finance division of Citigroup has admitted that
a backup tape containing personal information on almost 4
million customers has gone missing. The United Parcel
Service lost the tape on May, and it hasn't been seen
since. CitiFinancial only noticed the tape was missing on
May 20. The tape contains Social Security numbers and
transaction histories on both open and closed accounts at
the bank’s lending branches. Citigroup says it has no
reason to believe the tape has been stolen, but alarmingly,
the tape hasn't shown up at any UPS depot despite six weeks
of searching.

The company admitted that it doesn't use encryption on its
electronic transmissions, nor explained why it took so long
to notify the public.

Earlier this year a backup tape belonging to Ameritrade
went astray, with personal information on 200,000
customers; Time Warner lost a tape containing information
on 600,000 individuals, and Bank of America and Wachovia
suffered a data breach affecting 100,000 customers each in
May.

Date:10 June 2005