As valuable as machine learning and cloud storage are for the financial services sector, the risk of sensitive data being exposed by hackers or lapses in security is ever-present, as highlighted by a recent incident involving millions of documents with information on loans and mortgages owned by some of the largest banks in the country.
The documents referenced Wells Fargo, CapitalOne, Citigroup and various other entities. Wells Fargo told Dodd Frank Update that any Wells Fargo-related customer data involved in this incident likely originated from the sale of Wells Fargo mortgages to other entities.
Find out more about the security issue that exposed the sensitive data.