Economy

Law Firm to Ultra High Net Worth Clients in Data Breach

Appleby has spoken out to warn clients that they may be subject to exposure and that the data had been passed to media outlets that are members of the International Consortium of Investigative Journalists (ICIJ), the same organisation behind 2015's so-called "Panama Papers".

"We are committed to protecting our clients' data and we have reviewed our cybersecurity and data access arrangements following a data security incident a year ago which involved some of our data being compromised", the statement said.

We take any allegation of wrongdoing, implicit or otherwise, extremely seriously.

Appleby issued a statement last night in response to the ICIJ allegations, although it did not specify what the allegations were.

The US-based International Consortium of Investigative Journalists (ICIJ) and affiliated media raised allegations against the company's operations and its clients, following information being leaked. Appleby adds that it has experienced in the previous year " an incident on the security of the data", without more precision.

It is thought the information could be released by Left-leaning media groups.

It told The Daily Telegraph that, after working with a "leading IT forensics team", it was confident its "data integrity is secure" and the firm was "committed to achieving the high standards set by our regulators".

In light of intensifying scrutiny on law firms' cyber security and data protection systems, Appleby added that: "We are committed to protecting our clients' data and we have reviewed our cyber security and data access arrangements following a data security incident previous year which involved some of our data being compromised".

Appleby was established in Bermuda in the 1890s and specialises in offshore legal advice, with other locations including the British Virgin Islands, the Cayman Islands, Guernsey, the Isle of Man, Jersey, Mauritius, and the Seychelles, "as well as a presence in the global financial centres of Hong Kong and Shanghai". We are also committed to the highest standards of client service and confidentiality. This commitment is unequivocal.

A statement from the company said: 'We would be happy to co-operate fully with any legitimate and authorised investigation of the allegations by the appropriate and relevant authorities'.

Although admitting that it was not infallible, the firm said that, where it finds that mistakes have happened "we act quickly to put things right and we make the necessary notifications to the relevant authorities".

The company says it may lead to innocent parties being exposed to data protection breaches.



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