A data compromise is an organized theft of ATM, debit card or credit card information. When this happens, it's primarily because of a data breach on the part of a merchant or a merchant third-party processor, computer theft, stolen storage tapes or company insiders working for a merchant or a merchant's contractor.
How Bank of America is notified of a data compromise
Bank of America receives information from multiple outside sources such as Visa®, MasterCard®, American Express® or law enforcement agencies. Due to the sensitivity of the information involved, detail specific to the breach is not disclosed to the bank, so we are unable to provide the name of the merchant or where the data breach has occurred.
What to expect when a data compromise occurs
We understand that learning your account information may have been compromised can be an alarming experience. Important things to note if your card account data has been compromised:
- We may proactively close your card and reissue a new one in order to help protect your account
- It does not mean that fraud has occurred or will occur on your account
- It does not mean that you have become or will become a victim of identity theft
Depending upon the type of card you have, the data compromise notification process will vary: