Chinese lender ICBC's U.S. unit hit by ransomware attack

Subsidiary says services disrupted but Treasury and stock operations executed

New York-based ICBC Financial Services's business and email systems operate independently of the parent ICBC Group. © Reuters

NORIYUKI DOI, Nikkei staff writer

November 10, 2023 15:10 JST

SHANGHAI -- A U.S. subsidiary of Industrial and Commercial Bank of China (ICBC) said it had been hit by a ransomware attack Wednesday that disrupted some of its systems.

ICBC Financial Services, whose services include clearance of U.S. Treasurys and stocks, said in a statement that it has "successfully cleared U.S. Treasury trades executed on Wednesday and repo financing trades done on Thursday."