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TD Bank settles with NJ over data breach [Asbury Park Press, N.J.](Asbury Park Press (NJ) Via Acquire Media NewsEdge) Oct. 18--TD Bank will pay New Jersey $103,760 after a data breach in 2012 compromised personal information for 260,000 customers nationwide. The money is part of a $850,000 settlement involving New Jersey and eight other states, which investigated the TD Bank data breach over the past 18 months. "All consumers -- and especially banking consumers -- have a reasonable expectation of privacy and protection when it comes to their information," said acting Attorney General John J. Hoffman in a statement. "This settlement agreement is important to New Jersey consumers because it will help to prevent future data breaches by ensuring that TD Bank reforms the policies and procedures that allowed this breach to happen." In October 2012, Connecticut officials were told by TD Bank that a data breach in another state involving the loss of unencrypted back-up tapes. The tapes contained 1.4 million files that had accumulated over eight to 10 years. TD later notified customers who were affected by the data breach, offered free credit monitoring services and cooperated with those who wanted a new account. There have been no reports of identity theft as a result of the incident. The agreement, in addition to the monetary settlement, ensures that no backup tapes will be transported unless they are encrypted and all security protocols have been observed. ___ (c)2014 the Asbury Park Press (Neptune, N.J.) Visit the Asbury Park Press (Neptune, N.J.) at www.app.com Distributed by MCT Information Services |