Wells Fargo is facing scrutiny by regulators for accidentially leaking the account details of 50,000 of its affluent customers.
The details, which included clients’ names, social security numbers and other financial data, were provided by an attorney representing Wells Fargo as part of a dispute between ex-Wells Fargo employee Gary Sinderbrand and his brother who is currently employed at the bank.
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Moreover, the 1.4GB of details leaked did not include any confidentiality clause between the parties. The bank has now demanded the return of the data leaked.
“Our goals are to ensure the data is not disseminated, that it is rapidly returned, and that we ensure the discovery process going forward in the cases is working as it should,” Wells Fargo spokeswoman Shea Leordeanu said in a statement.
The recent data breach comes across as another hit for Wells Fargo that was recently plagued by a sales scandal. In September 2016, Wells Fargo was fined $185m by US regulators for illegal sales practice of secretly opening unauthorised deposit and credit card accounts after which it decided to drop all product sales goals in retail banking.
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By GlobalData
