Financial services firm MoneySmart hit by IT security breach, some customers' data copied
In emails sent to customers seen by CNA, MoneySmart said the compromised internal IT systems hold personal data, such as names and email addresses, that customers share with the company when they compare or apply for financial products.
Financial services firm MoneySmart reported on November 3 that an unauthorized third party had accessed and copied personal data of some of its customers. The compromised internal IT systems housed sensitive information such as customers' names and email addresses, which were shared with the company when they compared or applied for financial products.
The company discovered the breach on October 29 and immediately stopped the unauthorized access, securing its systems promptly following the discovery. MoneySmart's CEO, Vinod Nair, informed customers via emails that Singapore and Hong Kong customers were affected, and the company reported the incident to relevant authorities. Independent cybersecurity and forensics experts were engaged to conduct a thorough investigation.
The firm released a statement expressing deep regret to affected customers, emphasizing that the company takes responsibility for safeguarding personal information. MoneySmart is reaching out directly to affected individuals, explaining the compromised data and steps they can take to protect themselves. The company continues to operate normally and is committed to supporting its customers.
They are reviewing the incident to prevent future occurrences. The announcement did not provide the exact number of customers impacted, prompting CNA to request clarification from the firm. The Personal Data Protection Commission (PDPC) has also been notified of the incident.
Written by urgent.news from CNA - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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