October 22, 2020

Cayman National Bank IOM suffers data hack

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From International Investment

Cayman National Corporation (CNC) has officially confirmed that its Manx-based bank and trust company were the subject of a “data theft” by a “criminal hacking group” on Sunday.

A criminal hacking group has claimed responsibility for the data theft. It claims to have published 2TB of confidential data. A criminal investigation is ongoing and Cayman National is co-operating with law enforcement authorities, including Isle of Man Constabulary, to identify the perpetrators of the data theft.

Cayman National Bank (Isle of Man) Limited is a subsidiary of Cayman National Corporation Ltd which is based in and operates from the Cayman Islands alongside its main banking subsidiary, Cayman National Bank Ltd.In this instance, and despite the best efforts of leading data security consultants, this criminal hacking group has breached our system – although to date we have detected no evidence of financial loss to either our customers or Cayman National”

The bank said it is confident that the theft is contained within its Isle of Man entities – and it has detected no evidence of financial losses to customers or Cayman National.

“All of Cayman National’s operations within the Cayman Islands, including CNB, are separate and distinct operations from the bank in Isle of Man,” it explained in a statement about the breach.

“The two banks do not share common systems, databases, client information, or email platforms.”

The island’s Information Commissioner’s Office has also launched an investigation, while the Financial Services Authority has been notified of the breach.

Cayman National Bank (Isle of Man) Limited’s managing director, Nigel Gautrey, said: “In this instance, and despite the best efforts of leading data security consultants, this criminal hacking group has breached our system – although to date we have detected no evidence of financial loss to either our customers or Cayman National.”

Cayman National said it takes any breach of data security very seriously and a specialist IT forensic investigation is underway, with appropriate actions being taken to ensure that the clients of its bank and trust companies in the Isle of Man are protected.

The bank is in the process of notifying their customers of the data breach.

For more on this story go to; https://www.internationalinvestment.net/news/4007175/cayman-national-bank-iom-hacked

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