Mauritius Bank Accused of Major Data Breaches!

A bank in Mauritius is facing grave allegations regarding its handling of confidential client information. An anonymous letter, sent to both the Bank of Mauritius and the Ministry of Finance, accuses the institution of potentially violating both the Banking Act and the Data Protection Act. This troubling document is now circulating among various newsrooms across the island.

The letter revealed that the bank is jointly owned by two groups, one of which plays a significant role in approving loans and advances for both local and international clients.

Alarmingly, a representative from this group reportedly forwards all client applications to staff in an African country for further scrutiny.

It is alleged that these applications can then be accessed by personnel from the same group operating in several other African nations.

This practice raised serious legal concerns.

Banking Act

The author of the letter asserted that it constitutes a flagrant breach of customer confidentiality and banking secrecy as outlined in the Banking Act.

Clients did not consent to have their sensitive data shared with another bank, thus infringing upon their rights.

Furthermore, the bank operates independently and autonomously, merely having the first group as a shareholder.

The anonymous letter also highlightd a potential violation of data protection laws.

“This is also a breach of the Data Protection Act and the General Data Protection Regulation,” the author claims, “as confidential data is leaving the jurisdiction of Mauritius for African countries that may not have the robust security measures that Mauritius possesses.”

In addition to these alarming accusations, the document raises further governance issues, including claims of conflicts of interest involving the Chief Revenue Officer and the new Chief Executive Officer, along with allegations of “generous” expenditures.

In light of these potentially damaging allegations, the bank was approached for a comment. Responding cautiously, a spokesperson stated:

“We have become aware of an anonymous letter mentioning certain aspects of the bank’s operations.

While we do not respond to unverified information, we take these allegations very seriously.

The bank upholds rigorous standards of governance, professional conduct, and compliance at all levels.

In line with our commitment to transparency, measures have been promptly initiated to investigate the claims raised.”

The implications of these allegations could have far-reaching effects on the institution and its credibility, as well as the trust of its client base.

Source: Defi Media