ABN Amro loses tape with data on 2 million mortgage customers; - Mercedes-Benz Forum

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ABN Amro loses tape with data on 2 million mortgage customers;

By Tom Henderson
Dec. 16, 2005 11:09 AM

ABN Amro Mortgage Group Inc., a subsidiary of Chicago-based LaSalle Bank Corp., admitted Friday that it had lost a computer tape nearly a month ago containing data for about 2 million residential-mortgage customers.

Data on the tape included the names of the customers, payment histories, account information and Social Security numbers.

About 320,000 are customers of Troy-based LaSalle Bank Midwest, which changed its name from Standard Federal Bank in September.

The company said the tape was lost while being transported by DHL from the mortgage company’s data-processing center in Chicago to a center in Allen, Texas, operated by Experian, one of the national credit-reporting agencies.

A package containing the tape was picked up Nov. 18 and never arrived at the Experian site. In the news release issued by ABN Amro Mortgage, no explanation was given for the delay between the time the tape was sent and the acknowledgment that it was missing.

“There have been no reports of anybody’s identity being compromised. Our hope is when it was lost, it fell into a garbage can or something,� said Robert Darmanin,
vice president and director of corporate relations for LaSalle Bank Midwest. “We couldn’t be more disappointed.�

Thomas Goldstein, chairman and CEO of ABN Amro Mortgage, said in a statement, “We understand that this incident may cause concern for our customers, and we deeply regret that it has occurred. We have been notifying our customers and are dedicating resources to assist them and to answer any questions they have.�

Goldstein said the company is offering to enroll its mortgage customers in a credit-monitoring service of their choice for 90 days at no cost to them. He also said the company no longer delivers physical copies of data but transmits them by encrypted electronic means.

Darmanin said the tape was a copy and said the bank has lost no information.

Thanks, D.

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