[BreachExchange] Former Fifth Third employees stole customer info, gave to outside group

[Destry Winant]

https://www.msn.com/en-us/news/us/former-fifth-third-employees-stole-customer-info-gave-to-outside-group/ar-BBZTvHH

Authorities are investigating a data breach at Fifth Third Bank and it
appears to be an inside job.

According to Fifth Third, "a small number of employees" stole personal
data from the bank.

They didn't specify how many. But it's two or more.

"Clearly, when you have multiple people colluding, then it's a real
issue,"explained Crystal Faulkner of MCM CPAs & Advisors.

She labeled it "big trouble" when information is sold to an outside group.

"We're not talking about somebody across the street in the basement,"
she stated. "These are very large organizations, many of which are
outside this country that have figured this out and they're becoming
more and more and more sophisticated."

Fifth Third acknowledge the stolen information was provided to people
outside of the bank.

In a written statement, Fifth Third said, "We have notified the
limited number of customers who may be impacted. We will provide
identity theft monitoring to them at no cost."

If you're a victim, consider the race you now may have unwittingly
entered. It's tax season.

If a sophisticated identity theft ring has acquired your Social
Security number and other personal data, they might file under your
name and abscond with your refund in a slick bit of government fraud.

So, you might want to consider filing as soon as possible.

"The only way the IRS knows that they have done something bad and
actually filed an illegal return is when you file yours and request a
refund, as well," Faulkner commented.

It could take months to investigate, determine accuracy and make the
victim whole.

Fifth Third said it fired the employees suspected of stealing data and
is cooperating with authorities in the investigation.

If you're one of the victims, experts advise to close your accounts,
open new ones, personally contact your credit card companies and alert
them about what happened.

Experts say identity theft is quite common.

According to Fifth Third, incidents like the one they just experienced are rare.

"Nonetheless, we are reviewing our current preventative measures to
determine how we might further increase their effectiveness," said
Danielle Jones, assistant vice president and senior manager of public
relations for the bank.