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NZ Funds burglar caught

NZ Funds reveals who broke into its offices last month and stole sensitive client information.

Sunday, December 9th 2001, 10:48AM

by Philip Macalister

The person who broke into New Zealand Funds Management offices and stole computer tapes containing sensitive client information was a security guard working in the building.

NZ Funds principal Glenn Wright says the man who broke into the offices has been arrested, confessed to the crime (and other crimes committed in the ANZ Centre) and charged.

The arrest puts to bed theories of corporate espionage or someone wanting to poach NZ Funds' 27,000 clients.

"From what the suspect has said, there appears to have been no intention to specifically target NZ Funds. Rather, it was random that he went to our floor," Wright says.

"The removal of the computer tapes appears to have been a spur of the moment act rather than a planned one.

"The suspect stated that shortly after he removed the tapes he threw them into the jumbo bin in the office carpark."

The bin is emptied regularly and NZ Funds believes that the tapes are now in a rubbish fill and consequently would be damaged and unusable.

"Although it now appears that the data tapes have not been put to any malicious use, we are continuing with the use of new customer account numbers."

Because the man was a security guard in the building he had access to keys and swipe cards.

"(This) provides a simple explanation for what appeared to have been a sophisticated break-in," Wright says.

The firm that was responsible for the ANZ Building, which houses other financial services firms including CS First Boston, ANZ Funds Management, FundSource and BT Funds Management, has been replaced.

"While this has been a very unwelcome incident, we are very pleased that the matter has been brought to closure in a remarkably short period," Wright says.

Earlier story


Burglars break into leading fund manager's office

You can read Philip's blog here: http://www.goodreturns.co.nz/blog/

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