MphasiS is distressed by the identity theft leading to the bank fraud in Pune, involving three of its former employees and a current employee.

MphasiS considers data protection and data security of our clients and their customers to be of utmost importance. MphasiS has proactively instituted elaborate security systems and processes, which are constantly reviewed and upgraded. We are, and have always been, compliant with the highest standards of security in the industry.

While there is no evidence so far of a breach or audit failure in the processes employed by MphasiS and its client, in the light of this incident, we are conducting full external audits on processes and compliance. We will implement the required steps to further strengthen security and dissemination of information to customers as to how they should protect their data.

MphasiS is working very closely with the cyber branch of the Pune police, NASSCOM and the client bank in support of the investigation. MphasiS will spare no effort to bring to justice the employees, past or present, involved in this incident. In addition, we’re working with NASSCOM to further enhance the thoroughness of staff background checks.