Account information stolen from nearly 650 clients of Stanchart Singapore's private bank

PHOTO: Account information stolen from nearly 650 clients of Stanchart Singapore's private bank

Stanchart was informed of the theft by the police, its chief executive for Singapore, Mr Ray Ferguson, told media at a hastily arranged briefing.


Get the full story from The Straits Times.

According to a statement from the police on Thursday evening, the files containing data on Standard Chartered Bank's clients were found in a laptop seized from James Raj Arokiasamy.

James Raj is the man accused of hacking into the website of a town council, signing off as "The Messiah". He was arrested and charged in November.

The statement added that Standard Chartered Bank had lodged a report on Dec 2, 2013.

Here is the full statement from Standard Chartered bank:

SINGAPORE - Standard Chartered has been notified by the police of the theft of 647 of its Private Bank clients' monthly bank statement for February 2013.

Ray Ferguson, CEO, Standard Chartered said: "The confidentiality and privacy of our clients are of paramount importance to us, and we take this incident very seriously. Customer data protection is our responsibility and we sincerely apologise to all our customers and specifically to our Private Bank clients who have been affected."

The Bank has spared no efforts to thoroughly investigate the matter and can confirm that based on investigations to date, the theft did not occur through the Bank's IT and data security systems but through one of the servers of a third party service provider which the Bank engaged to print bank statements for its Private Bank clients.

As a precautionary measure, the Bank is contacting its affected Private Bank clients.

No Wholesale Banking clients, SME and retail customers are affected. 

The Bank would like to reassure its affected Private Bank clients that it has not found any unauthorised transactions resulting from this incident.

Bert Wong, CEO, Fuji Xerox Singapore said: "We share the Bank's concerns on the theft of information on this system, and deeply regret the incident. There was unauthorised access by a third party to a server dedicated to Standard Chartered Private Bank in a standalone printing facility.

This is the first time in Fuji Xerox Singapore's history that such an incident has occurred. So far, we have taken all appropriate action to protect the integrity of our server systems. A forensic team is also conducting a thorough review. There was no impact on the data of customers on any other systems.

We wish to reassure all customers that the protection of their data is a key priority and that we take our duty of care very seriously, aiming to deliver the highest quality service at all times."

Standard Chartered and Fuji Xerox will continue to work closely with the Singapore Police as part of a thorough investigation into this matter. As the matter is now with the police and under investigation, Standard Chartered and Fuji Xerox are not able to provide any further details at this stage.