ICBC claimed to have paid ransom following attack against US unit

The LockBit ransomware operation alleged that the Industrial & Commercial Bank of China has provided ransom following an attack against its U.S. subsidiary ICBC Financial Services last week, which resulted in U.S. Treasury market disruptions, Reuters reports. Such claims of ransom payment for the attack, which not only took down ICBC Financial Services' email services but also prompted $9 billion in temporary debt to BNY Mellon, have not yet been verified, with ICBC and the U.S. Treasury Department not yet responding to requests for comment. LockBit's attack against ICBC Financial Services comes after it compromised major aerospace firm Boeing and law firm Allen & Overy. Meanwhile, the Financial Services Information Sharing and Analysis Center noted the robust threat information sharing protocols within the financial sector. "We are reminding members to stay current on all protective measures and patch critical vulnerabilities immediately. Ransomware remains one of the top threat vectors facing the financial sector," said an FS-ISAC spokesperson.

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