Bank Of America Warns Of Debit Card Security Breach
Bank of America just blocked an undisclosed number of accounts after learning customer information may have been exposed.
It appears to be part of an ongoing security breach problem. This is the second time in the last month and it's not just Bank of America.
Bank of America is saying little about the specifics of the breach, only that the debit cards involved were compromised at a third-party location.
Translation: Not at the cash machines.
In letters sent out this week, Bank of America told customers that the compromised cards are no longer valid as of March 7. The bank won't say how many accounts were involved, but corporate affairs spokeswoman Betty Reiss said the bank has found no evidence of suspicious activity involving the accounts.
The accounts are blocked. New cards will arrive in the mail in five business days.
But this is not the first time banks have had to close accounts due to potential identity thieves. In February, Bank of America, Washington Mutual and Wells Fargo bank joined a credit union in canceling a reported 200,00 debit cards because of a security breach at third-party location.
Published reports cite breaches that go back to fall of last year.
The major investigation involves both the Secret Service and the FBI and points to two major retailers, OfficeMax and Wal-Mart, as the possible locations where the theft occurred.
In this latest alert, Bank of America assures customers their security is a top priority, and customers will not be responsible for fraud that results from the security breach.
If you have not received a letter, your debit card is not involved.
That's a relief for Bank of America customer Yvonne Zaske, who is already on guard because of reports of recent ATM skimming. (Read more about ATM skimming at this link) Her card is OK. But she's still concerned.
"Because if there's a breach of security, that doesn't give me a very secure feeling. It makes me real reluctant to use my card," said Zaske.
For More Information:
