Dumpster Dive Reveals Security Risk (case study)
||30+ locations in Kansas City metro
Financial institutions are required to protect customer data and could face penalties if an issue is found with their information security. A bank wanted to proactively test its protocol for disposing of sensitive documents and enlisted CBIZ to help.
Our social engineering team waited until the end of business hours and then rummaged through the bank’s parking lot dumpster. Among the waste, we discovered documents that had been hand-torn into tiny squares and others that had been shredded vertically. We reassembled the documents and found secure customer emails that contained travel plans and valid system usernames and passwords.
These findings and others were compiled into a final report that also included recommendations for how the bank could mitigate its future risks. Using a third-party to shred and dispose of sensitive documents ranked among the bank’s top suggestions for ways to improve its information security procedures.
Information data breaches are only becoming more common and more expensive, with costs now estimated at more than $150 per compromised record. By addressing the loophole in its document disposal practices, the bank reduced its risk of a data breach and the ancillary consequences that come with it, such as regulatory penalties and damage to customer confidence.
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