Tuesday, June 07, 2005

Has it become cool to report a compromise?

It is not clear to me anymore that corporations are concerned at all about being in the news for security compromises (name the last five compromised companies that hit the news - how did it affect your impression of them? how did it affect their stock price? how did it affect the potential for future earnings?).

So I ask... Has it become cool to report a compromise?

Citigroup said Monday that personal information on 3.9 million consumer lending customers of its CitiFinancial subsidiary was lost by UPS while in transit to a credit bureau -- the biggest breach of customer or employee data reported so far.

Citigroup, the nation's biggest financial services company, said that UPS lost the tapes while shipping them to a credit bureau in Texas.

The tapes covered CitiFinancial customers and about 50,000 customers with closed accounts from CitiFinancial Retail Services. Customers of CitiFinancial's auto and mortgage businesses were not affected.

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