In early February 2020, Fifth Third had to notify customers some of their employees had stolen customer information. The data exposed included names, social security numbers, addresses, phone numbers, dates of birth, mother’s maiden names, driver’s license information, and account numbers. How the stolen information is being used is still undetermined in this on-going investigation.
According to the authorities, and based on Fifth Third’s internal investigation, the information was stolen by a small number of employees who provided it to people outside of the bank. Fifth Third is the nation’s ninth-largest U.S.-based consumer bank, and per a company statement, they have terminated the individuals it has found to be involved in the information theft.
Fifth Third Bank apologizes for any inconvenience as they work to resolve this matter. While bank incidents like this are not common, there are newer ways for a business to protect themselves from this type of inside as well as external theft.
Centrality’s newest product, DatAnchor, is a revolution in encrypted information and ensures your data is unable to leave your organization without your consent. The product encrypts and restricts access to data based on boundaries or business rules created by the company. The boundaries can be physical, such as requiring a user to be joined to your network locally and virtually through Wi-Fi/cloud connectivity. The encryption runs in the background unbeknownst to the user. Access can be revoked instantaneously and relegate existing data files unreadable regardless of the current location of the data.
If your data is stolen, DatAnchor ensures it cannot be opened and sold on the dark web, rendering the thief unsuccessful. Not only does this save your business money on cybersecurity insurance, as long as you have a reliable data backup, your information is secure. To learn more about DatAnchor, contact Noah Priddy at 502.371.3311.