Update on Criminal Data Breach 20 Jan 2020

20 January 2020

UPDATE: Criminal Data Breach

As you will be aware from our previous press releases, an unauthorised third party gained access to our IT systems and obtained confidential information relating to our clients, our employees, and our business.

We are not aware of any evidence of any loss of client funds or direct financial harm to our clients as a result of the data hack.

What has happened since?

Since our previous update, we have been working intensively with specialist cyber security consultants to investigate the nature of the breach, identify the data that has been stolen, and strengthen our IT security systems to protect our clients' interests. We have contacted our clients to inform them of the incident and we have provided them with guidance on how to protect themselves from the risk of identity theft and fraud following the data hack.

We have undertaken extensive work to enhance the security of our IT systems. You will appreciate that, for security reasons, we will not be sharing details of the security measures we have in place.

What are we doing?

Our investigations are ongoing but we have obtained a copy of the data that was taken from us and made available online. As soon as we are in a position to do so, we will be in touch with those previously contacted regarding the personal data affected. Due to the volume and format of the data compromised, this process will take some time. We thank you for your patience while we undertake this exercise.

We remain in close contact with regulators and have also been in communication with law enforcement agencies in connection with the data hack. However, and as you will appreciate, we are unable to comment on these investigations.

What should you do?

There remains a risk of the stolen data being used for fraudulent purposes. We therefore urge all individuals who have provided personal data to us to remain vigilant and look out for any suspicious communications requesting information or payment. Please be cautious of any communications purporting to come from us, particularly if any factor is different (e.g. a different phone number, address, email, voice, instruction etc.). Please remember that we will never contact our clients unprompted to ask for your account details or security information and we will never ask you to disclose your passwords. If you suspect any suspicious activity in connection with this incident, please report it to your local police and Cayman National Isle of Man.

If you have any questions or concerns, going forward please contact Cayman National Isle of Man on +44 (0) 1624 646900 (for the Banking Team) or +44 (0) 1624646901 (for the Fiduciary Team) or email dataenquiry@caymannational.im.

Please continue to check our website www.caymannational.im for any further updates.