Sep 082011
 
 September 8, 2011  Posted by  Breaches, Business

Jim Malmberg writes:

Last month, a new lawsuit was filed in District Court for the District of Columbia against Bank of America Corporation; the nations largest bank holding company. The suit alleges that B of A has been outsourcing certain functions to overseas companies and that as a result has given access to the personal financial records of American citizens to foreign nationals. If the allegation is correct, it would appear that B of A has violated the Right to Financial Privacy Act – a federal law – and could have exposed millions of account holders in such a way that they can easily become victims of financial crimes. Just as importantly, those same account holders may also be targeted for government snooping; no search warrant required.

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