News Snapshot:
The incident spotlights a danger that bank leaders concede keeps them up at night — the prospect of a cyberattack that could someday cripple a key piece of the financial system’s wiring, setting off a cascade of disruptions. Even brief episodes prompt bank leaders and their government overseers to call for more vigilance. “This is a true shock to large banks around the world,” said Marcus Murray, the founder of Swedish cybersecurity firm Truesec. “The ICBC hack will make large banks around the globe race to improve their defences, starting today.” Ransomware attack As details of the attack emerged, employees...
