Information gained though an investigation involving federal and local law enforcement has lead Chase to believe that the tapes were compacted and buried in the landfill where the garbage was disposed. The tapes were in a lockbox, and are believed to be completely destroyed.
Chase will be monitoring the accounts of those involved to ensure the security of their information, and to prevent any fraudulent uses of the cards. So far no misuse has been discovered or reported.
"We deeply regret that this has occurred and apologize to those impacted," said Rich Srednicki, chief executive officer of Chase Card Services. In addition to monitoring the accounts of those affected, Chase will also be strengthening their security procedures, while reviewing data storage procedures.
