Executives opted to not inform customers after the investigation suggested that the tapes had likely been destroyed, says Angus Sullivan, Commonwealth's acting group executive for retail banking services. (careersinfosecurity.com)
Retail banks are facing increasing pressure from nontraditional entrants that offer retail banking services. (businessinsider.com)
In a YouTube video, CBA's acting head of retail banking services, Angus Sullivan, said the bank found in May 2016 it had lost two magnetic tapes containing 15 years of data on customer names, addresses and account numbers for 19.8 million accounts. (cnbc.com)