TD Bank Misplaces A Quarter Million Customer Records

I have misplaced my keys from time to time - it seems to happen more and more with age - but at least they are my keys. I have also worked in a data center and been tasked with "rotating the tapes" on a backup device (15-40 tapes per day, if I recall). It's admittedly a mind-numbing job, but a vital one. However, when you are a regional bank, you surely don't want to misplace unencrypted backup tapes of customer data in transit, and then wait 5 months to 'fess up about it. Unfortunately, that's just what Toronto-Dominion Bank has apparently done:
TD Bank is unable to account for the disappearance of the tapes and has no clue where they might be. They simply vanished while being transferred between locations. Although its letters to States' Attorneys General acknowledge the possibility of a security lapse, TD Bank spokeswoman Rebecca Acevedo said the company isn't classifying the event as a breach. "No data has been lost," she said. Rather, it has merely been "misplaced" -- less than comforting words for those affected, we're sure.

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