Two days ago Wells Fargo Bank lost a computer list of its California credit customers in a burglary of a contractor's office in the East Bay. All the names on the computer are subject to identity theft because the list has names, addresses, social security numbers and probably some demographic data about each customer.
Wells took a number of exemplary actions, that should be noted by all businesses. First, the obvious letter to all affected customers. Second, personal phone calls to all affected customers. Third, a notice to the three credit bureaus to look for suspicious action in any of the accounts of the targeted Wells customers. Fourth, a free one year account with Privacy Guard that allows for direct customer interrogation of their own credit reports. Fifth a dedicated 800 phone number to call with any problems. Sixth, change in the credit account numbers. Seventh, a promise of indemnity against any losses due to identity theft. Finally, Wells has posted a $100,000 reward for the burglar.
The only two things Wells has missed is: a notice to all other customers who are worried and a more appealing reward offer to a burglar snitch than money, a reward such as a new Maserati.