Seychelles Commercial Bank Faces Major Cybersecurity Breach: Client Data Compromised
TL;DR
Seychelles Commercial Bank experienced a cybersecurity incident resulting in the exposure of personal data of its internet banking customers. The bank confirmed that no funds were accessed, but the breach has raised concerns about data security and the Seychelles’ approach to tax liability.
Main Content
Seychelles Commercial Bank Reports Cybersecurity Incident
Seychelles Commercial Bank announced on Friday that it had identified and contained a cybersecurity incident, leading to the temporary suspension of its internet banking services. The bank advised customers to use ATMs or visit branches during regular hours.
Personal Data Exposed, No Financial Loss Reported
A hacker claims to have stolen and sold the personal data of Seychelles Commercial Bank clients. The bank confirmed that only personal information, such as names, email addresses, phone numbers, account types, and balances, was compromised. No financial loss was reported.
Investigation and Data Verification
Researchers at Resecurity, a Los Angeles-based cybersecurity firm, engaged with the attacker and reviewed a sample of the stolen data. The data included numerous customer details, with some accounts labeled as “current accounts – government.”
Confirmation from Central Bank of Seychelles
The Central Bank of Seychelles confirmed that it had been formally notified of the incident. This breach is significant due to the Seychelles’ tax laws, which rank it 45th on the Corporate Tax Haven Index, highlighting its role in global corporate tax abuse.
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References
Conclusion
The cybersecurity incident at Seychelles Commercial Bank underscores the importance of robust data protection measures. While no financial loss was reported, the exposure of personal data highlights the ongoing challenge of safeguarding customer information in the digital age.
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