Ransomware attack on China's biggest bank disrupts Treasury market trades, reports say
A financial services business of China's biggest bank says it was it by a ransomware attack that reportedly disrupted trading in the U.S. Treasury market
BEIJING (AP) — A financial services business of China’s biggest bank says it was it by a ransomware attack that reportedly disrupted trading in the U.S. Treasury market.
Industrial and Commercial Bank of China Financial Services handles trades and other services for financial institutions. A statement on its website seen Friday said the ransomware attack this week disrupted some of its systems but that it had disconnected parts of the affected systems to limit the impact from the attack.
The company, which is based in New York, said it was investigating and had reported the problem to law enforcement.
All Treasury trades executed Wednesday and repo financing trades on Thursday were cleared, it said. It said ICBC’s banking, email and other systems were not affected.
