News

ACH Cayman Limited (ACH), which is the company that represents the clearing banks in the Cayman Islands announces that on 21 May 2021, ACH was advised of the detection of malware on the Cayman server at its third party processor. That processor is engaged by ACH to provide clearing settlement services for domestic electronic funds transfers and cheques among the ACH banks.

The ACH banks comprise Cayman National Bank Ltd., RBC Royal Bank (Cayman) Limited, Butterfield Bank (Cayman) Limited, Fidelity Bank (Cayman) Limited, FirstCaribbean International Bank (Cayman) Limited and Scotiabank & Trust (Cayman) Ltd.

Only the Cayman server located at the third party processor has been impacted. At this stage there is no evidence that any ACH bank system has been impacted.

This statement is being issued to all ACH bank customers out of an abundance of caution only. At this stage there is no evidence that any customer data for any ACH bank has been accessed or compromised. Each of the ACH banks is committed to being a responsible custodian of the information provided and the information processed in the course of providing banking services.

What steps have been taken?

· The Malware has been quarantined and removed from the affected Cayman server;

· Specialist forensic IT security consultants have been appointed to investigate;

· Each ACH bank has notified and will continue to liaise with the relevant Cayman    Islands regulators;

• Increased fraud and security monitoring across all systems.

What can you do?

While there is no evidence at this stage that any bank customer data has been compromised, if any client identifies any suspicious activity in connection with any account, please report this to your bank immediately.

Please continue to check your bank website for more information.

Further information will be provided as soon as it is available.