UK lender has action taken against it following data theft

In the wake of a breach involving client data, reported on this blog in December, Standard Chartered PLC made some some changes. Kroll Ontrack reports 

… the Monetary Authority of Singapore (MAS) revealed it has taken “appropriate supervisory actions” against the firm over the data theft of some of its private-banking clients’ bank statements.

A total of 647 clients of Standard Chartered had their data stolen from a server at Fuji Xerox, the third-party firm that would print the bank statements out. MAS has said it has taken action against Standard Chartered, but it has not specified what that is.

In a statement, Standard Chartered said: “We have since further strengthened both our internal and external controls and processes to prevent similar incidents from happening again.”

It said that it would continue to work closely with MAS to identify any other possible security weaknesses that could be exploited to gain access to the firm’s sensitive financial data.

Would love to know what action MAS took over this breach, and I’m not sure I understand why they haven’t disclosed that, as it might serve as a warning/deterrent to others.

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