The bank plans to install encryption and fraud-detection software. Bank Rhode Island’s CEO said today that her IT department plans to install encryption and fraud-detection software on computers after a laptop containing the names, addresses and Social Security numbers of about 43,000 customers was stolen from its principal data-processing provider, Fiserv Inc. “We are making certain what limited information is on [the laptops] is encrypted. We don’t think there’s any sensitive information on them. But we’re acting in an abundance of caution with respect to those laptops,” BankRI President and CEO Merrill Sherman said. The theft of the laptop from Fiserv also prompted BankRI to install fraud-detection software on computers at its Providence, R.I., headquarters and branch offices, Sherman said. “This has reinforced heightened scrutiny around security. We’re pretty comfortable with our policies and procedures,” said Sherman, adding that she is also comfortable with measures Fiserv is taking to ensure that customer data theft doesn’t happen again. Full Story
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