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Time Warner Employee Data Missing

May 2, 2005

Information on 600,000 current, ex-workers lost by storage firm, Secret Service investigating.

NEW YORK (CNN) - Time Warner Inc. said Monday that data on 600,000 current and former employees stored on computer backup tapes was lost by an outside storage company and that the Secret Service is now investigating.

Kathy McKiernan, a spokeswoman for Time Warner (down $0.01 to $16.80, Research), told CNN that the tapes contained names and Social Security information on current and former Time Warner employees and some of their dependents and beneficiaries dating back to 1986.

The tapes may include information on employees of Time Warner and any of its affiliated companies between 1986 and the present. Time Warner, the world's largest media company, owns AOL, Time magazine, CNN/Money and other properties.

"Time Warner retains that information to administer retirement, compensation and other benefits information for its employees," McKiernan told CNN. She would not say what other information was on the 40 tapes that were lost with the missing container, citing the integrity of the ongoing investigation.

New York-based Time Warner said the tapes did not include personal data on its customers.[What more personal information can there be when a social security number gives access to any/other personal data?]

McKiernan said the Secret Service is investigating the matter, working closely with the company and Iron Mountain Inc. (down $0.38 to $29.32, Research), the data storage firm that lost the tapes.

Time Warner has been working with Iron Mountain for 10 years, she said, adding, "They have had an excellent track record."

Iron Mountain could not immediately be reached for comment.

McKiernan said the investigation has not found any evidence that the tapes or their contents have been accessed or misused.

Time Warner said it is notifying individuals whose information may have been on the missing tapes of this incident and of resources at their disposal to monitor their credit reports in the event of unusual activity.

All current Time Warner employees are being sent a letter from Larry Cockell, Time Warner's senior vice president and chief security officer, informing them of the lost tapes and letting them know the steps they can take to protect their personal information.

Time Warner will offer its employees free credit monitoring for one year, in addition to other services, McKiernan said. As of Feb. 1, the company had about 84,900 active employees.[Free credit monitoring will not alleviate the catastrophic loss of personal information and possible fraud. Will Time Warner be able to recover the credit ratings which may be destroyed and alert banks and businesses of those who may lose their identity to thieves?]

From: CNN's Biz-news Senior Editor, Caleb Silver

Find this article at:
http://money.cnn.com/2005/05/02/news/fortune500/security_timewarner/index.htm

[Emphasis added]

ATG: Congress is pushing to pass the Real ID Act.....which will require every American to release to the DMV [National ID] where millions will be exposed to identity theft. There is no way the government will be able to protect citizens. Those wishing to use illegal ID's will now have a better way of doing so. It will be just like asking every person to give up their guns (and in this case their identity)......and the only ones who won't be doing so will be the crooks/illegals already in this country. The above loss is only a drop in the bucket so far......Ameritrade lost 200,000 customer account information. Almost a million others have also been reported. Members of Congress who are demanding this action must have their heads in the sand, totally unaware of what is happening......or.......they don't care.