21 Million German Bank Account Details for Sale

2008-12-08

A German magazine, Wirtschaftswoche, is reporting that the details of bank accounts held by 21 million Germans are for sale on the black market for 12 million Euros.

Two reporters for the magazine posed as buyers and were able to meet with two individuals who offered to sell a CD-ROM containing the names, addresses, bank name and account numbers of 21 million people. The editors in charge of the investigation stated, "We took away with us the first delivery, a CD with 1.2 million accounts, that we couldn't imagine." The magazine has given the CD to authorities for investigation.

Wirtschaftswoche states, "In the worst case, three out of four German households would have to be afraid that some money could be taken from their checking account without their authorization, and perhaps even without their realizing it."

Peter Schaar, the government official in charge of protecting personal data, said of the incident, "It is essential that personal data cannot be transmitted with the individual's explicit agreement, and that the source of the data is clearly identified in order to assure that one can follow up."

You can read more about the incident on The Register.