Nov 10, 2023 06:29 PM

FINANCE

U.S. Subsidiary of China’s Largest Bank Hit by Ransomware Attack

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What’s new: A New York City subsidiary of China’s largest bank said that a ransomware attack on Wednesday U.S. Eastern time had “resulted in disruption” to its systems.

Industrial and Commercial Bank of China Financial Services LLC (ICBCFS) said in a statement that it had been making recovery efforts after isolating the impacted systems. An investigation is also underway.

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