September 27, 2020

Cayman National bank was hacked & leaked 2.21 TB of customer details

2 min read

A hacker named Phineas Fisher recently publicly acknowledged the theft of Cayman National Bank data, and the stolen data contained customer details including account balances. What worries more people, however, is Fisher’s stealing up to 2.21TB of customer data, which can be used to learn more about the full financial records of certain companies. Cayman is known as a tax haven because Cayman has a very low tax rate, and it is such a large number of companies worldwide that it will register in Cayman to lower the overall tax rate.

Fisher’s data was not stolen directly from the Cayman National Bank but was stolen from the Isle of Man National Bank for offshore banking. The Isle of Man is the British Isles between England and Northern Ireland, as it specializes in offshore banking and is, therefore, an important part of the global financial services industry. After the data is sorted, it can be found that the account involves customers in the United Kingdom, Mauritius, the Isle of Man, the British Virgin Islands, Seychelles, the United States, and Ireland. The table also shows that Cayman manages detailed financial information for more than 3,800 companies, trusts and personal accounts for clients worldwide, including the account balances of these customers.

It is not easy for the Cayman National Bank to want to get away with it because of such a large data breach. Therefore, the bank issued a notice in the data breach that it was indeed attacked. In the announcement, Cayman National Bank said it is currently cooperating with relevant law enforcement agencies to investigate the perpetrators of data theft and to identify the stolen data. The National Bank of Cayman attaches great importance to any violation of data security and is currently working with professional information technology investigators and taking appropriate action. Finally, the Cayman National Bank also said it would ensure that the bank and the trust company’s customers were protected.