Bloomberg reports that Singapore’s central bank said it will consider regulatory action against Standard Chartered after reviewing the bank’s investigation into the incident. The city’s police said client statements were discovered on a laptop seized from an alleged hacker.
The bank said it hasn’t found any unauthorized transactions since the theft from Fuji Xerox, which was hired to print the February statements for the 647 clients, and is contacting affected customers.
The security breach threatens to undermine Singapore’s reputation as a private-banking hub for Asia. The city, which hosts about $800bn in offshore assets, is Asia’s largest wealth management center, according to Boston Consulting Group.
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