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June 14, 2011

RSA’s bank security tokens and data breach notifications

The RSA cyber attacks resulted in RSA warning its customers of the risk to RSA's SecurID two-factor authentication products, including the security tokens RSA's customers provide to their customers.

Whilst RSA argues the data breach risk was low, there is a major reputational risk.

This has lead to reports that Westpac, ANZ, NAB and CBA as well as the ATO will replace the security tokens they have issued to their customers.

It is still not clear what information has been obtained from RSA but clearly its customers are not taking chances.

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Posted 14th June 2011 by David Jacobson in Legal, Risk management