Cyber attack at one of the world's largest banks

On November 9, the Industrial and Commercial Bank of China (ICBC) announced that it had just become the target of a ransomware cyber attack, disrupting some financial services.

A ransomware attack at ICBC has disrupted the US Treasury bond market. (Source: AP)

According to ICBC, as soon as the incident was discovered, the bank's financial services system (ICBC Financial Services) was blocked and disconnected to prevent the incident from causing widespread impact.

On the same day, the US Treasury Department announced that it had received information about a cyber security incident at ICBC that affected the US Treasury bond market, and affirmed that it would maintain regular contact with relevant parties and important regulatory agencies in the financial sector.

Earlier, the Financial Times reported that a ransomware attack at ICBC disrupted the US Treasury bond market because the bank was unable to execute transactions that some investors entrusted to them.

According to brand valuation consultancy Brand Finance (UK), ICBC, founded in 1984, currently serves more than 500 million individual customers and millions of corporate customers.

Notably, it is the world's largest bank by assets under management (USD 5.5 trillion as of December 2021) and annual revenue (USD 143 billion as of December 2022).

Source: https://baoquocte.vn/tan-cong-mang-tai-mot-trong-nhung-ngan-hang-lon-nhat-the-gioi-249630.html