Promoted from the diaries – maybe it’s time the state/feds started looking at treating financial data as being on par with medical data – – Thurman
Maybe it’s time for our elected officials to try and figure out a better way to protect our personal information? Since Countrywide holds the mortgage on my home, I wasn’t very pleased to see this:
A New Jersey couple is suing Countrywide Financial Corp. and two other people claiming the company allowed a security breach involving detailed financial information from more than two million customers.
Matthew and Danielle Holmes of Mount Holly, N.J., want a judge to grant class-action status to claims that an employee of the mortgage giant stole detailed financial information from customers, sold it to another person, who then sold it to an unknown number of companies.
It’s not like Countrywide has any important information about their customers or anything:
The Holmes’ attorney, Donald Haviland Jr., of Philadelphia, said Countrywide Financial had all his client’s financial information including mortgage information, credit card and Social Security numbers and birth dates. Haviland said the breach has the potential to wreck their finances.
I’m pretty disturbed that I wasn’t notified that my life may have potentially been stolen since I’m a customer. Let’s see how hard it was for them to get at the sensitive information that holds the key our lives:
The lawsuits stem from the arrest of Rene Rebollo Jr., 36, of Pasadena, Calif., a former senior analyst for Countrywide, and Wahid Siddiqi, 25, of Thousand Oaks, Calif. Federal investigators said Rebollo used a flash drive to download data from about 20,000 customers a week for two years from 2006 through August 2008.
Rebollo then sold the information to Siddiqi for $500 and earned a combined $50,000, federal investigators said. Siddiqi pleaded guilty on Dec. 9 to 10 counts of fraud and admitted to selling the information to third parties, including an undercover FBI agent.
Now they haven’t had any examples of identity theft, but I wasn’t aware I was at any greater risk than normal to be looking out for it. I can’t tell you how good it feels to know that my life could possibly be ruined for what amounts to twenty five Cents when it’s all done. And what the hell kind of security allows an employee to walk out with information on twenty thousand customers per week for over two years? I’m disgusted. Do you know how your mortgage company safeguards your life’s information?
On the political/governmental side, at the very least I would think the company has to notify you of the potential breach of information. Besides better notification after the fact, do you think there is anything government can do to require better security of our personal information, so situations like this don’t continue to occur?