Frequent scandals! Australias largest bank has lost nearly 20 million of its customers information.

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 Frequent scandals! Australias largest bank has lost nearly 20 million of its customers information.


The Australia Broadcasting Corporation reported in a report that the federal bank was unable to confirm whether the two tapes that were to be destroyed in May 2016 had been destroyed, because the bank did not obtain relevant documents. The two tapes contain the names, addresses, account numbers and transfer records of 19 million 800 thousand Commonwealth Bank customers from 2000 to 2016. It is reported that the two tapes were lost by Fuji Xerox, a federal banks subcontractor, in 2017. The federal bank said in a statement that when the tape was lost, the bank had launched an independent investigation and briefed the Australian Information Commissioners office. Angus Sullivan, the executive director of the federal banks retail business department, assured clients in a video statement that the tape does not contain account passwords or personal identities, so the security of the account is not threatened. I want to assure our clients that we have taken the necessary measures to protect their information, and we apologize for any worries that may arise. So far, there is no evidence that the interests of clients are damaged or suspicious account activities are involved. The office of the Australian information commissioner said in May 3rd that there was no evidence of suspicious activities involving these 19 million 800 thousand accounts after the tape loss occurred. The Australian Stock Exchange also announced the morning that the affected customers do not have to take any action because their accounts have been monitored since the event. In fact, the Australian Prudential authority, which oversees all financial institutions, has already stared at it as a result of a long range of suspicious violations by the federal bank. In May 1st, the Prudential issued a report which severely criticized the federal banks nearly 54 thousand violations of anti money laundering laws and anti terrorist financing laws. In particular, the report cautioned the banks increasingly degenerated corporate culture: the continued economic success of the federal bank has made its management consciousness numb. The bank is generally complacent and passively coping with risks. It is short-sighted and does not learn from mistakes. Byers, the chairman of the Prudential authority, believes that the internal management of the federal bank, corporate culture and accountability mechanisms need to be reorganized, and the findings are warning to all Australian financial institutions. Australian finance minister Morrison said the Prudential authoritys report shows that Australian financial institutions generally ignore the governments regulatory authorities. At the same time, the board of directors of various organizations is inefficient, and senior managers lack the risk and problems in the organization. He believes that the report of the Prudential authority should be one of the required reports of all financial institutions in Australia, and the establishment of a sound accountability mechanism should also be an important issue in the financial industry. Source: Peoples daily editor: Zhang Xianchao _NN9310 In particular, the report cautioned the banks increasingly degenerated corporate culture: the continued economic success of the federal bank has made its management consciousness numb. The bank is generally complacent and passively coping with risks. It is short-sighted and does not learn from mistakes. Byers, the chairman of the Prudential authority, believes that the internal management of the federal bank, corporate culture and accountability mechanisms need to be reorganized, and the findings are warning to all Australian financial institutions. Australian finance minister Morrison said the Prudential authoritys report shows that Australian financial institutions generally ignore the governments regulatory authorities. At the same time, the board of directors of various organizations is inefficient, and senior managers lack the risk and problems in the organization. He believes that the report of the Prudential authority should be one of the required reports of all financial institutions in Australia, and the establishment of a sound accountability mechanism should also be an important issue in the financial industry.