TD Bank agreed to pay a $625,000 fine after losing data tapes that contain the personal information of 90,000 Bay State customers, according to the state Attorney General's office.
"Massachusetts data breach law requires businesses to provide notice of a data breach promptly," Attorney General Martha Coakley said in a statement. "Businesses are required to secure the sensitive information that consumers entrust to them, and cannot subject consumers to unnecessary risk by failing to provide prompt notice when that information is compromised or lost."
Coakley's office said TD Bank lost two unencrypted data backup tapes when the bank attempted to ship them from Haverhill to Springfield in March 2012, but did not notify consumers or the attorney general until October 2012. The tapes contained customers' names, addresses, Social Security numbers, account numbers and other personal information.
"There has been no evidence of fraud or unauthorized access or use of the personal information involved in the incident," Coakley's office said in a statement.
Attempts to reach TD Bank late yesterday were unsuccessful.
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