Consumers Confused Over Letters from BNY Mellon Shareowner Services
September 18, 2008

Tucson, AZ – Sept. 18, 2008 - Consumers across the country are concerned about notices they recently received from BNY Mellon Shareowner Services that indicate their Social Security numbers and other personal information may be at risk.

The notice, which has been received by consumers in southern Arizona, states that computer tapes containing their personal information were lost while being transported to an off-site archive storage facility. The letter also contains offers for 24 months of free credit monitoring, identity theft insurance and reimbursement for the costs of a credit report freeze and removal. A toll free phone number is provided for more information as well as links to web sites.

BBB serving southern Arizona has received multiple calls from local residents who are fearful that this may be a scam.

“I was afraid to call the toll free number and give them any information. I thought they might be trying to get my name and other things,” said one caller. “I had no idea who the company was and the date I got the letter in the mail was the same date the letter was written. Those two things raised red flags for me.”

BBB has confirmed that the letters are legitimate and being mailed to millions of consumers across the country. Recipients are confused because they don’t recall ever doing business with BNY Mellon Shareowner Services. That’s because the company performs services on behalf of other companies. Their clients include issuers of securities, such as publicly held corporations. They also administer employee stock option plans.

“While there has been no indication that the data on the lost tapes has been misused in any way, we are offering comprehensive fraud protection to all affected individuals as a precaution,” said company spokesman Kevin Heine. The company has posted more information at www.bnymellon.com/tapequery.