The Commonwealth Bank of Australia (ASX:CBA) has confirmed it lost the financial statements of almost 20 million accounts, but insists its customers' account security has not been compromised.
The company says their platforms, systems, services, apps and websites were unaffected and that no action is required by customers.
They refer to an incident back in May 2016 where tapes with customer’s statements on were destroyed.
An independent forensic investigation conducted by KPMG determined the tapes had most likely been disposed of.
Ongoing monitoring of the 19.8 million customer accounts remains in place as a precaution.
The Commonwealth Bank's acting head of retail banking describes the incident as 'unacceptable'.
Shares in the Commonwealth Bank (ASX:CBA) are up 0.74 per cent to $74.