Lost Tapes Prompt IT Changes at BNY Mellon.

The article reports on the policy implemented by the Bank of New York (BNY) Mellon Corp. which focuses on encrypting all of its stored data in the U.S. It states that the move was carried out following the loss of the bank's storage tapes in April 2008 that contain confidential information of more than 4.5 million clients and 747 companies. The bank stresses to encrypt all of its data stored on tapes and CDs as well as implement safety and protection practices in the transport of tapes. It was found that the lost tapes also contain relevant information from almost 500,000 residents which include checks, payments and Social Security numbers.