On April 6, 2025, a ransomware attack targeting a third-party printing vendor, Toppan Next Tech (TNT), led to a breach involving customer information from DBS Bank and Bank of China’s Singapore branch. The incident was reported to the Personal Data Protection Commission (PDPC) by TNT, and both the Cyber Security Agency of Singapore (CSA) and the Monetary Authority of Singapore (MAS) released a joint statement the following day.
TNT’s systems were compromised, resulting in customer data from the two banks being extracted by an unidentified threat actor. However, login credentials such as usernames, passwords, and digital tokens were not accessed during the breach.
DBS Bank was notified of the incident at around 10:20 pm on April 5, 2025. According to preliminary investigations, the information potentially compromised includes customer letters and account statements relating to approximately 8,200 individuals. Most of the affected documents are tied to DBS Vickers accounts, while the rest involve Cashline loan account holders.
The bank clarified that these documents were encrypted before being transmitted to TNT for printing. It is still unknown whether the attackers were able to decrypt the files. Nonetheless, as a precautionary measure, DBS has suspended all ongoing and future printing jobs with TNT.
The affected statements and letters were dated between December 2024 and February 2025. Information in the documents may include names, mailing addresses, and details of investment holdings and loan accounts. Importantly, they do not contain sensitive information such as login credentials, NRIC numbers, account balances, or overall wealth summaries.
In response to the incident, DBS Singapore Country Head Lim Him Chuan stated that safeguarding customer information is of utmost importance. He expressed regret over the distress caused by the breach and assured that additional surveillance measures are in place to monitor suspicious activity linked to the affected accounts.
Impacted customers who have registered their email addresses with the bank will be notified via email by Tuesday. Those without email registration will receive physical letters. DBS is also advising customers to remain vigilant against potential scams, including phishing attempts via SMS and email. The bank reminded customers never to share banking credentials, OTPs, or click on suspicious links and QR codes.
CSA has been assisting TNT with the investigation and implementing containment measures. MAS has been closely coordinating with both affected banks to ensure appropriate risk mitigation and prompt customer outreach.
Authorities have stressed the importance of strengthening cyber defenses, particularly against the rising threat of ransomware. Organisations are urged to follow CSA advisories on cybersecurity best practices.
To further protect themselves, DBS customers are encouraged to activate the bank’s “Safety Switch” to temporarily block access to their funds in case of suspicious activity. Suspected scam victims should immediately report incidents to the DBS fraud hotline at 1800-339-6963 (or +65 6339-6963 from overseas) and file a report with the Singapore Police Force.
While the breach did not originate from DBS’ internal systems, the incident highlights the vulnerabilities associated with outsourcing services to external vendors and the growing need for secure data transmission practices.
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