Media Releases
Published Date: 11 April 2014

Comment by MAS Spokesperson on the Theft of Bank Statements Belonging to some Private Banking Clients of Standard Chartered Bank

Singapore, 11 April 2014 … In response to media queries on the theft of bank statements belonging to some private banking clients of Standard Chartered Bank which occurred at its third party service provider, the MAS spokesperson said that MAS has taken appropriate supervisory actions against the bank. MAS generally does not disclose details of its supervisory actions.

2   The MAS spokesperson reiterated that MAS takes a serious view on the safeguarding of customer information, and has reminded all financial institutions to ensure that robust controls are in place, including for operations that have been outsourced to third party service providers.