Own Shares in Disney But Get Screwed By BNY Mellon
June 5, 2008
Dammit, we got one of those notification letters AGAIN that our personal financial information has been lost. At first we couldn’t figure out why because we don’t use Bank of New York. Took a little digging to figure out one of their customers is Walt Disney Co. We own shares in Walt Disney Co., hence the notification.
This year there have been two separate incidents (February and April) unencrypted data from BNY Melon never arrived at the intended destination. The names of the companies transporting the unencrypted data are not being disclosed to the public.
This affected: depositor and shareholders of People’s United Bank and also shareholders of 24 other companies, including Walt Disney Co., John Hancock Financial Services, a unit of Manulife Financial Corp., and Bank of New York Mellon itself.
That’s extremely frustrating. It is so easy to forget that while you think you’re doing business with one entity, there are an unknown number of other “partners” and “service providers” that get hold of your private information and turn out to be the weak links in the overall security chain.
Again we’re offered the obligatory offering of 12 months of credit monitoring — but honestly that seems grossly inadequate and does little to make us feel better — or forgiving.
Even more frustrating is who to blame. Certainly not Disney’s fault. BNY Mellon security procedures are obviously disturbing that they routinely send unencrypted data via third parties. I can’t even moan about the companies responsible for transportation because they’re names are being withheld. Meanwhile, our politicians sit on the side and do nothing – as usual. An occasional saber rattle but no companies are ever held accountable.
What are your thoughts?
Related Links:
- Bank of New York Mellon Loses 4.5 Million Customer Records
- Lost backup tapes prompt IT changes at NY bank
- BNY Mellon’s data tape ‘lost in transit’
Politicians got nothing to do with the world financial crisis.
Financial moguls are the ones to be blamed, they are the ones to be held accountable for deteriorating world financial crisis. They’ve used their financial muscles to corrupt people in power.
Let them fix the crisis cause it wont be that long before the entire global community pays a heavy price of what their greed have caused to the poor of the poorest.