Ransomware Hits Singapore Banks: A Wake-Up Call for Third-Party Cybersecurity

When cybercriminals strike, they don’t always go through the front door.

In early April 2025, a ransomware attack on a third-party vendor—Toppan Next Tech (TNT)—shook Singapore’s financial sector. The breach didn’t hit DBS Bank or Bank of China (BoC) directly. Instead, it exploited their outsourced data processing partner, exposing personal information of over 11,000 customers.

🔍 What Happened?

The attack targeted TNT, which prints customer statements for DBS and BoC. As a result:

• DBS: ~8,200 clients affected (DBS Vickers and cashline loan statements)

• Bank of China Singapore: ~3,000 clients impacted

• Exposed data included names, addresses, loan account numbers, and potentially more.

Importantly, both banks clarified that core banking systems and funds were not breached.

⚠️ Why This Matters to Everyone

This incident is a textbook example of supply chain cybersecurity failure. Your systems might be secure—but if your vendors aren’t, your customers are still at risk.

It’s a growing global threat. Hackers now target vulnerable third-party providers to leapfrog into bigger networks.

🛡️ How Smile Cyber Tech Protects You

At Smile Cyber Tech, we treat third-party risk as a first-priority risk. Whether you're a bank, school, or family-run business, our solutions are built for real-world threats:

✅ Vendor Risk Audits – We evaluate your partners’ cybersecurity readiness.✅ Ransomware Protection – AI-driven detection, backup, and recovery systems.✅ Staff Training – Because human error is still the #1 way in.✅ 24/7 Monitoring & Alerts – Instant action on suspicious activity.✅ Compliance Support – For institutions handling sensitive customer data.

We don’t wait for breaches to happen. We help you stop them before they start.

📞 Stay Ahead of the Threat

Whether you're managing financial data, student records, or customer support portals—cybersecurity isn't just an IT job anymore. It's a trust issue.

Let Smile Cyber Tech secure your entire ecosystem.

📞 Call: +44 1379 777199

💬 WhatsApp: +44 7767709199

🌐 Visit: smilecybertech.com