The issue pertains to a report by Standard Chartered in December 2013 that around 560 of its private banking clients' February bank statements had been stolen at its third-party service provider, Fuji Xerox Singapore. Fuji Xerox had been the designated printer of the bank's statements for private banking customers. The police alerted Standard Chartered of the theft.

In its latest statement, MAS said that it generally does not disclose details of its supervisory actions and reiterated that it takes a serious view on the safeguarding of customer information. It also reminded all financial institutions to ensure that all controls are in place, including for operations rendered via a third party provider. 

In reply, Standard Chartered said it has since further strengthened its internal and external controls and processes to prevent similar incidents from reoccurring, calling the incident "a lesson."

Investigations are ongoing.