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Bank of New York Mellon Corp
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Industrial and Commercial Bank of China Ltd
Nov 10 (Reuters) – The Industrial and Commercial Bank of China’s access to an electronic settlement platform for U.S. Treasury securities remained suspended on Friday in the aftermath of a ransomware attack on China’s largest bank, two sources familiar with the matter said.
BNY Mellon, the sole settlement agent for Treasury securities, disconnected the Chinese bank from the platform after the hack and is waiting for a third party to attest that it is safe to reconnect, the sources said.
The process is likely to go into next week, they said.
The attack, confirmed by ICBC on Thursday, is the latest in a string of demands for ransom that hackers have claimed this year. ICBC Financial Services, the bank’s U.S. unit, said it was investigating the attack that disrupted some of its systems, and making progress toward recovering from it.
Reporting by Lananh Nguyen and Paritosh Bansal; Editing by Megan Davies
Our Standards: The Thomson Reuters Trust Principles.
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Lananh Nguyen
Thomson Reuters
Lananh Nguyen is the U.S. finance editor at Reuters in New York, leading coverage of U.S. banks. She joined Reuters in 2022 after reporting on Wall Street at The New York Times. Lananh spent more than a decade at Bloomberg News in New York and London, where she wrote extensively about banking and financial markets, and she previously worked at Dow Jones Newswires/The Wall Street Journal. Lananh holds a B.A. in political science from Tufts University and an M.Sc. in finance and economic policy from the University of London.
Paritosh Bansal
Thomson Reuters
Paritosh oversees the work of more than 100 journalists across the globe who write about finance and markets, including banking, financial technology, stocks, bonds, forex, corporate finance, white collar crime and environmental, social and governance (ESG) investing. He also writes a column, In the Market. With some 25 years in the profession and degrees in economics, journalism and physics, Paritosh has reported and edited the news file across the spectrum, from business and economics to politics and general news.
