MoneySmart confirms data breach affecting Singapore and Hong Kong users

MoneySmart has confirmed that personal information belonging to some of its customers was copied during a data security breach. The Singapore-based financial services platform disclosed the incident following detection of unauthorised access to its systems.

According to the company's statement, the compromised data includes identity card numbers and financial information of affected users. While the portal did not specify the exact number of customers impacted, it acknowledged that individuals in both Singapore and Hong Kong were affected by the breach.

The company has stated it is investigating the extent of the breach and working to notify affected customers. MoneySmart did not immediately disclose additional details regarding the timing of the breach or the methods used to gain unauthorised access to its database.

Users in Singapore and Hong Kong who have registered accounts with MoneySmart are advised to monitor their personal and financial accounts for any suspicious activity. The portal typically allows customers to compare and apply for financial products including credit cards, loans, and insurance policies.

Data breaches involving personal identification numbers and financial information raise concerns about potential identity theft and fraud risks. Regulators and consumers have increasingly scrutinised the data protection practices of financial technology and comparison platforms operating across the region.