Data at Band of America, Wachovia, others compromised - May. 23, 2005

NEW YORK (CNN/Money) - Bank of America Corp. and Wachovia Corp. are among the big banks notifying more than 670,000 customers that account information was stolen in what may the biggest security breach to hit the banking industry.

Account information on the customers was illegally sold by bank employees to a man identified as Orazio Lembo, whom police said was doing business by illegally posing as a collection agency.

When police in Hackensack, N.J., first announced arrests in the case on April 28, they estimated that more than 500,000 people were affected. That number was raised to 676,000 Friday. Because some people have more than one account, Hackensack Police Chief Charles “Ken” Zisa says the number of accounts breached may top 1 million.