Laptop Computer Security

Rip of the Week: 2,246 Madoff Victims Now Hit Again…By Laptop Theft

This week’s Rip of the Week was a bit of a shocker. Not only is the story a markedly sad one, but an usual personal twist caused me a double-take.

Newsday.com reports on the theft of 2,246 Bernie Madoff victims’ PII thanks to an unsecured laptop computer belonging to AlixPartners LLP, the consulting firm that had been processing the victims’ claims. To be clear, then:

  1. Victims lose their life savings (thankfully not in all cases) due to one of the most egregious cases of fraud by an individual in history.
  2. Victims hope to receive some restitution, even minimally.
  3. Firm chosen to assist by processing claims fails to protect PII on its own laptops.
  4. Firm experiences the same thing 2.6 million others did last year: laptop theft.
  5. Firm claims information was “password protected” (sound familiar?). That is, the data is wide open.
  6. Firm delays two months before notifying the victim-victims.

Obviously it’s doubly sad that victims experienced double jeopardy. And it’s made worse by the fact that this story is just like almost every other one, including the response by AlixPartners that “the information was password protected” and “[they] have no reason to believe it has been compromised.”

I must admit that I did a double-take when I read the spokesman’s statement, however:

“The names, addresses, Social Security numbers and some Madoff account information on 2,246 investors was contained in a computer stolen from the car of an employee of AlixPartners Llp, the consulting firm that has been processing victims’ claims in the Ponzi scheme, a company spokesman, Tim Yost, said Tuesday.”

That’s right: his name is Yost. And no, we are not related, by anything more than a common appreciation for laptop theft and its consequences, which one of us learned the hard way.

Bookmark and Share