The Monetary Authority of Singapore is investigating a ransomware attack on Toppan Next Tech, a vendor responsible for printing customer statements for DBS Bank and Bank of China (BoC) in Singapore. This incident has potentially exposed the personal data of thousands of customers.
DBS was alerted to the breach on April 5. Preliminary investigations revealed that the customer statements and letters of approximately 8,200 DBS customers may have been compromised. The compromised data could include first and last names, postal addresses, and details related to equities held under DBS Vickers and Cashline loans.
DBS employs encrypted files to send customer statements and letters to Toppan Next Tech for printing. As investigations are ongoing, it remains uncertain whether the threat actor was able to decrypt these files. Importantly, DBS has confirmed that the statements and letters do not contain login credentials, passwords, NRIC details, deposit balances, or total wealth holdings.
In response to the incident, DBS has halted all printing jobs with Toppan Next Tech and is enhancing surveillance to monitor for any suspicious or unusual account activity, aiming to better protect affected customers. Meanwhile, the Bank of China has reported that up to 3,000 customers have also been impacted by the attack.
The Cyber Security Agency of Singapore (CSA) is assisting Toppan Next Tech with its investigations and providing guidance on containment measures. Singapore’s central bank is closely collaborating with the affected banks to ensure they implement effective risk mitigation strategies and follow up with their customers.