Standard Chartered Bank Singapore has just reported to the police the theft of 647 of its private bank clients' monthly statements. The private bank is specifically tailored to service high net worth clients with over US$2 million in investable assets.
According to Standard Chartered, the theft occurred through the server of a third-party service provider, Fuji Xerox. Fuji Xerox prints the monthly statements for these clients.
In response, Standard Chartered Bank Singapore CEO, Ray Ferguson, reiterated the company's commitment to security and confidentiality and also confirmed that its IT and data security systems were not compromised.
Early reports indicate that the theft was done through an unauthorized access to one of Fuji Xerox's servers dedicated to Standard Chartered Private Bank at a standalone printing facility.
The Monetary Authority of Singapore will review Standard Chartered's investigation report before determining if any regulatory action is needed.
Source: Channel News Asia