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Data breach at SingTel

As a lay person, the first thought that came to my mind when I read about the data breach at Singtel was that Singtel together with Grab is one of the successful consortiums being awarded the Digital Banking (DB) licence.

So, I ask how safe is our DB?

I do not blame Singtel totally for the data breach. It was a data breach of a third party file sharing system that was compromised and from what I have read, Singtel was prompt, professional and transparent in the manner in which it handled this incident.

Very sophisticated hackers scan the globe to hack into computer systems to steal even highly sensitive, classified and national security datas and some of them are even state-sponsored. My bigger concern is how robust and reliable are our DB when they are rolled out?

I can imagine that banking customers can cry until no tears, so to speak, if their money were stolen or lost in this virtual black hole. I consider this Singtel data breach as a blessing in disguise. It is both a timely warning and a wake-up call.

The government has alot of work to do to help ensure public confidence and success of our DB ambition. Relevant legislations must be further enacted and current ones further tighten. It is of critical importance that they stay ahead and stay on top of international hackers in their games.

Schemes similiar to what Singapore Deposit Insurance Corporation (SDIC) offers and other frameworks must be put in place to strengthen the public’s confidence in DB too. I want our DB to succeed in order to help strengthen our international competitiveness.

Think.

 

 

Simon Lim

 

 

 

yyy
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20 Responses to “Data breach at SingTel”

  • Fintech CONspiracy:

    Fintech Conspiracy detected?
    Hackers heck care!

    DigialBanking sinonymous to DataBreaching?

    Paymelah!
    Paynowlah!
    What else?
    Paygonelah…

    Sophisticated World
    Sophisticated Apps
    Sophisticated Hackers
    1 000 000 000 = 0
    Loongchoong Liaoliao!

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  • Tracey Ching:

    Dear simple Simon, do not have any confidence in our Govt. Sinkapor Govt lost so much money in our foreign investments via GIC and Temasek. Latest DBS India with the merger with the Ah neh bank. Sure confirmed lose $$$. Budget only give cash miserable and stingy $500. But the Govt prefers to lose multi billions overseas.

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  • #08-193 Toilet Bowl Mouths:

    Have one data breach to end all data breaches.

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  • xoxo:

    DB ,in these 2 cases,sounds more like Digital BUNGLING than any sort of Banking?

    More fraud$ on the way …
    More FTs in *IT* /Banking and now in Digital Banking jobs implies more BUNGLING?

    MAJULAH SINKINGPORE?

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  • Simple Simon:

    “from what I have read, Singtel was prompt, professional and transparent in the manner in which it handled this incident.”

    Simple Simon, “I always swallow.”

    Don’t think too much. Just swallow. Hook, line, and sinker.

    If you swallow privately, that’s your choice.

    Since you swallow publicly and tell others that it is good, it seems necessary to say something.

    How prompt is Singtel in telling its customers?

    Feb 1st. https://www.accellion.com/company/press-releases/accellion-provides-update-to-recent-fta-security-incident/
    “Accellion, Inc., provider of the industry’s first enterprise content firewall, today issued an update on the recently reported security incident regarding FTA, Accellion’s legacy large file transfer product.”

    Singtel announcement
    Feb 17th
    https://www.singtel.com/about-Us/news-releases/singtel-adreses-data-breach-moves-to-suport-afected-stakeholders
    “Singtel is moving with urgency to reach out to all affected individual and corporate customers.”

    “Prompt” means 16 days or likely much longer after the data loss at Accellion. Other reports said the loss occurred on Jan 20th. That means almost a month between loss and Singtel announcement.

    When will the affected individuals be informed?

    Simon, you think or not?

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  • xoxo:

    For once,lets be honest here.
    MAJORITY OF SO-CALLED FTs dumped here BY ORDER OF PAP FT POLICY are mostly FAKES and much lese talented and less qualified than THE RELIABLE AND HIGHLY PRODUCTIVE NATION-BUILDING SG-PMEs these FAKES have replaced.

    Can someone with integrity conduct a DETAILED STATISTICAL ANALYSIS to debunk what i mention?

    Dept of Statistics?
    Ministry of Manpower?

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  • xoxo:

    Besides,i would state categorically here ,once again,that our DISPLACED LOCAL PMEs possess high standards of INTEGRITY and to give an real example,our former sg-bankers were honest and much less frauds and breaches took place when such sg-bankers were doing the job.

    Can MAS deny?

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  • xoxo:

    And,WHAT MIGHT HAVE BEEN THE REASON FOR THE HIGH STANDARDS OF INTEGRITY,QUALITY AND PRODUCTIVITY WE ONCE ENJOYED?

    IT IS THIS.
    WE ARE TRU BLU SINGAPIREANS,NO LESS.
    AND,WE ARE PROUD OF OUR NATION.
    As for half-committed PRs,and worse other FTs,do we honestly ABSTRACT THE SAME LEVEL OF *CITIZEN PRIDE/NATIONAL PRIDE* as we could once OBTAINED FROM SGS and TOOK FOR GRANTED????

    LEE AH LONG,you cant be more wrong!!!

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  • oxygen:

    ONE BANKSTER IN LEE-jiapore shoved – without informed consent – its DEBIT CARD in place of ATM card.

    Their pretext?

    Oh we moving to “smart nation” directive!

    So the next logical step is to forced all customers into digital internet banking including those elderly who can’t even manage their health contingencies let alone monitoring the security of their (enforced) internet banking account.

    MAS LOOKING THE OTHER WAY?

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  • Harder Truths:

    Staff are all FT – who can tell how many Data Breaches there have been? They can pass the information to their friends or outsiders for fun and profit. Just like one of the FT staff recently send clients’ names to Ah Long.

    Also ‘sophisticated hack’. Give me a break. A lame excuse for useless foreigners in IT and management not doing their job but getting paid handsomely.

    It is because these foreigners gave the contractors to their friends in third-rate start-ups? Or was this deliberate?

    By now all Singtel client records are sitting in a third world country somewhere probably being used for scams.

    Banking sector is also in the same hands. With 99.9% of a certain race looking after your records, how ling before your personal information or account ends up the same way? Or has it already?

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  • COVID MUTANT NINJAS:

    HAHAHA! 7000 MUTATIONS IN INDIA!
    So,INDIAN-FTs will bring into TINY sg soon.

    Who to blame?

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  • Uncle LIm:

    Cracks in the government and businesses have appeared every now and then.

    FT nurses blundered. Data breaches. Corruption by FT.

    More to come.

    But PAP Govt welcomes third rate workers from third rate countries like India.

    You can tell the quality of a Govt and workforce by the way they handled the pandemic. Philippines, India and Indonesia made a mess of it.

    The worse is yet to come!

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  • Give me a break!:

    Straits Times: 8-day Budget debate starts on Wednesday

    PAP MPs in Parliament are (its) useful idiots. Idiots cannot debate anything.

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  • SEND FOREIGNERS HOME:

    Straits times: What will happen to some firms when wage subsidies under Jobs Support Scheme end

    KEEP IT SIMPLE. What should have been done from the START was to cancel the work visa of foreigners in Singapore to force them to go back where they came from. Singaporeans can take over their job in Singapore. Wage subsidies will likely not be necessary.

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  • Harder Truths:

    oxygen: MAS LOOKING THE OTHER WAY?

    It has been clear that digital currency – the logical end result of a digital bank – is made to enforce the political will of the regime on all of us. Once $G goes fully digital – and it will happen – everything we spend will be tracked.

    As for MAS – the regime is of the view that the end justifies the means.

    We will not be allowed to spend on things that the regime does not allow. We can be cut off from our own money if the regime considers us a political threat. Once digital currency is our only method of payment – we will do what we are told. Including voting for the regime at elections – because by then we will be voting by blockchain and our votes will be known to them instantly.

    Plus when the regime decide to increase taxes, fees etc, and directly debit this from your account, or impose negative interest rates we can;t do anything but watch the digital currency disappear bit by bit.

    Let the good times roll.

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  • Dio leh Luo MO:

    Don’t feed this troll. Who needs the PAP when you got layman opposition like this mF?

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  • The day will come:

    Soon the day will come when everyone’s data easily breached by sophisticated 5G hacking?

    And every bank account can be zeroed and zilched?

    No bank will take reposibility?

    By then, the whole world is chaotic and dysfunctional!
    It’s endtime for mankind due to Greed!

    Go back to the soil.
    Everyone has to learn to toil.
    For his food, not oil!

    Greed leads all to a common spoil!

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  • ask the senior staff:

    //Staff are all FT – who can tell how many Data Breaches there have been? They can pass the information to their friends or outsiders for fun and profit. Just like one of the FT staff recently send clients’ names to Ah Long.//

    aiyoh. ask the senior staff at SINK TELL lor, why renew plan must send across a copy of IC lor even all the information (we are kiasi sinkies somemore ??) already verified over the phone ??

    many institutions wayang like real (confidentiality & privacy hor ??) ??

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  • DPM HSK talking cock. Again:

    Straits Times: Singapore must ensure it can build back reserves, should need arise to draw on them again: DPM Heng

    “Build back” to what level? How much was spent on the pandemic crisis? What is the level of reserves in the first place? Former Elected President Ong Teng Cheong asked but never got an answer.

    With perennial Budget surpluses over the last 5+ decades PLUS the BILLIONS made annually by self-funding stat boards like SLA, JTC, LTS, URA, CAAS, etc. AND the BILLIONS more they are holding as “hidden reserves” PLUS the massive transfer of wealth from Singaporeans to the Government when they bought over-priced, poor quality, depreciating (to ZERO) HDB flats using their retirement savings (CPF money) Singapore’s reserves must be over a TRILLION $. With such a high level of reserves why is it necessary to build back reserves. PAP just uses the reserves as its “war chest” to “buy” votes during elections.

    Actually, the government could have saved billions given out to support jobs and wages if it had the “guts” to force foreigners working in Singapore to go back where they came from by cancelling their work visa. Singaporeans can takeover their job in Singapore.

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  • No. 1 Cyber Threat is....:

    Internal staff.

    Never never have FTs as Database administrator, security administrator, security manager, security architect, and best of all never have them maintain and operate IT infrastructure. Its so easy for them to export personal data from the systems then buy a ticket home then sell the personal data in dark site for millions. The temptation is too much for some of them to resist.

    Don’t believe every attack is launched from the Internet as internal threats have the most easiest path to access the data.

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