Data theft involving four banks

Filed under
Security

Electronic account records for some 500,000 banking customers at four different banks were allegedly stolen and sold to collection agencies in a data-theft case that has so far led to criminal charges against nine people, including seven former bank employees.

Hackensack Police are continuing their investigation into the theft by a crime ring that apparently accessed the data illegally through the former bank employees.

According to the U.S. Department of the Treasury, the crime is believed to be the largest breach of banking security in the U.S., local police said.

Hackensack, N.J., police Det. Capt. Frank Lomia said the investigation into the crime ring is still under way.

"This thing's getting bigger and bigger," Lomia said. "It's still growing. The banks are uncovering more accounts than we knew about."

The police announced the arrests of the nine suspects on April 28 and charged them with illegally selling personal identification information stolen from bank and New Jersey state computer databases.

Full Story.