Computer Error Rocks Alaska's Fund

Tuesday March 20, 7:28 am ET

By Anne Sutton, Associated Press Writer

Oops! Computer Technician Accidentally Wipes Out Info on Alaska's $38 Billion Fund

JUNEAU, Alaska (AP) -- Perhaps you know that sinking feeling when a single keystroke accidentally destroys hours of work. Now imagine wiping out a disc drive containing an account worth $38 billion.

That's what happened to a computer technician reformatting a disk drive at the Alaska Department of Revenue. While doing routine maintenance work, the technician accidentally deleted applicant information for an oil-funded account -- one of Alaska residents' biggest perks -- and mistakenly reformatted the backup drive, as well.

There was still hope, until the department discovered its third line of defense, backup tapes, were unreadable.

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