Data Hack at Cayman National Bank

Werner Alberts
November 20, 2019

Cayman National Corporation Ltd announced on Monday, 18 November 2019 that its Isle of Man subsidiaries, Cayman National Bank and Cayman National Trust Company, have experienced a data hack.

Cayman National Bank is the primary supplier of bulk payment services accounts to CTS for its money transmission business.  CTS customers are reminded that their Capital Liquidity Account funds are held in the segregated ring-fenced accounts of Capital International (Nominees) Limited.  These client money accounts are held in a diversified pool of highly rated banks.

We have been in direct communication with the Executive Management of Cayman National Bank since early on Tuesday 19 November 2019 and have been assured that comprehensive steps have been taken to secure the cyber security defences of Cayman National Bank and that the malware used by the criminal hacking group has been removed by a professional cyber security firm.  It has also been confirmed that no funds of CTS have been stolen.

Cayman National Bank advised that formal letters will be issued to all their customers setting out what data may have been compromised by the hackers.  These letters are expected to be issued by Monday 25 November 2019.  The customer in this instance is CTS. We have set up a special task team within Capital International Group that will analyse the letter that will be issued to CTS and will shortly thereafter be able to advise CTS clients what data may have been compromised by the hacking of Cayman National Bank and any actions that they ought to take.