JSE Finds No Evidence of Data Breach After Investor Allegations

 

KINGSTON, Jamaica

The Jamaica Stock Exchange (JSE) has concluded a high-priority investigation into alleged data security issues and found no evidence of any breach within its infrastructure, refuting recent claims of compromised personal and trading information.

The investigation was triggered following a July 13, 2025, report by Our Today, which highlighted a controversial trade by journalist David Rose, involving the purchase of two NCB shares at US$0.20 per share. The trade allegedly contributed to a US$72 million loss in NCB’s market value.

No Breach, No Compromise

According to a statement issued by the JSE, immediate response protocols were activated once the allegation surfaced. The exchange launched a full-scale forensic probe into the claims and informed the relevant broker in accordance with Jamaica’s Data Protection Act (2020).

The JSE clarified that it acts as a data processor, with the broker serving as the data controller responsible for the management and safeguarding of personal data.

The investigation was carried out by the JSE’s internal IT and cybersecurity teams, who reviewed system logs, controls, and access trails. The results were definitive:

“There is no evidence of any compromise of the Jamaica Stock Exchange’s infrastructure or network, nor any unauthorized or suspicious access to the personal data in question.”

Context: High-Profile Trade Under Scrutiny

The speculation that sparked this investigation involved journalist David Rose, whose trading activity allegedly revealed sensitive information. The trades were flagged due to the abnormally low price, raising concerns of either insider access or system loopholes.

While the findings clear the JSE’s systems, they may not end scrutiny over how the transaction occurred and what internal checks allowed it to proceed.

Our Opinion
In an era where digital trust is paramount, the JSE acted swiftly and transparently—a move that restores confidence in Jamaica’s capital markets infrastructure. However, this incident also serves as a wake-up call for deeper scrutiny into trading protocols and investor education around data privacy and cybersecurity.

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