The Standard Chartered Bank has finally responded to the allegations against it on the leakage of client data. After the allegation, an internal investigation was carried out by Hong Kong’s branch of Deloitte Limited to verify the authenticity of the allegations. Standard Chartered has now come out to conclude that such allegations on client data leakage are baseless.
According to Standard Chartered, it has carried out a comprehensive investigation into the matter. The bank has concluded its findings, which is quite different from claims made on the allegations.
The bank also addressed the recent social media comments on the allegation, stating that those comments do not have any factual basis. Last month, the bank mentioned on its Facebook page that it had terminated the contract of one of its employees for leaking customer data.
An independent investigative body in the bank was called to conduct the investigations, and their findings did not reveal any wrongdoings from the Bank’s perfective, according to Standard Chattered.
The independent investigators looked into comprehensive details of the available data they collected. Such details include an interview of staff, looking at CCTV cameras and other monitoring systems, going through email communications and phone logs, and the Bank’s client data system.
From the findings of the independent investigators, there was no established evidence on claims of client data leakage, the Bank said.
Standard Chattered also conducted Deloitte
Due to the severe importance of the allegation and the Bank’s resolve to get to the bottom of the matter, Standard Chartered Bank consulted Deloitte to look into the investigation. The company conducted an independent and confidential review. During the review period, Deloitte analyzed the procedure of the bank’s investigative unit.
According to Bank, the globally recognized consultant used all resources within its power, including referencing best practices, global investigation frameworks, and its forensic investigation experience.
No evidence about data leak was found
Deloitte found that the Bank’s investigation and findings by the bank’s independent body are reasonably appropriate. Standard Chattered has reiterated that the Bank has done everything to carry out a thorough investigation. The Bank also noted that Deloitte had expertly gone through the investigation reports and found everything normal.
However, the Bank is not disclosing any additional details due to the contents of the data. There is some very sensitive information about the data, and the Bank has to keep these secrets to protect its confidentiality because of its clients.
Besides, the Bank has actively reached out to the monetary authority in Hong Kong and other related authorities with the reports on its investigation into the matter.
Also, standard Chattered expresses its appreciation to the concerned public on the matter for the past few months. The Bank also appreciates its clients for their support and hopes that the result of the investigation will remove any concerns from the clients and the entire banking community, Standard Chattered said.