HomeCyber BalkansWall Street firm hit by cyberattack that has knocked systems offline

Wall Street firm hit by cyberattack that has knocked systems offline

Published on

spot_img


 

New YorkCNN — 

EquiLend, a Wall Street firm that processes trillions of dollars of securities transactions a month, was hit by a cyberattack that has knocked some of its systems offline, the company said Wednesday.

The financial technology firm, owned by Goldman Sachs, JPMorgan and other major Wall Street firms, said in a statement to CNN that it could take “several days” before services are fully restored.

In the statement, EquiLend spokesperson Christopher Gohlke said that on Monday the company “identified a technical issue that placed portions of our systems offline.”

EquiLend said it is working with outside cybersecurity firms and other advisers to investigate the attack and bring services back online.

“We immediately launched an investigation and have identified a cyber security incident involving unauthorized access to our systems,” Gohlke said. “We took immediate steps to secure our systems and are working methodically to restore the involved services as quickly as possible.”

EquiLend, owned by a consortium of Wall Street firms including BlackRock and Bank of America, is a significant player in the securities-lending industry through its NGT trading platform. Hedge funds and other investors rely on securities lending firms to make short bets against the value of securities.

The impact on financial market players has been “limited,” a spokesperson for FS-ISAC, a global consortium of financial institutions who share cybersecurity intelligence, told CNN in a statement.

The FS-ISAC spokesperson said the hack impacted specific automated securities lending services, causing firms to adjust by moving to manual processes.

“The sector is monitoring for any ongoing issues,” the FS-ISAC spokesperson said, “and coordinating through our established incident response processes and resilience mechanisms to ensure firms have the information they need to mitigate potential impacts.”

US officials are keeping tabs on the hack.

Reference: https://edition.cnn.com/2024/01/24/business/wall-street-firm-cyberattack/index.html 

AH 



Source link

Latest articles

DOD’s Terry Kalka discusses how cloud services have aided in threat detection

In a recent interview, Terry Kalka, the Director of the Defense Industrial Base Collaborative...

APT36 Hackers Targeting Windows Devices Using ElizaRAT

In recent news, a sophisticated threat actor known as APT36 has been actively targeting...

Influencing People to Win in Cyber

Implementing a zero trust approach in an organization is a complex and multi-faceted process...

Canadian Police Arrest Suspected Hacker Linked to Snowflake Attacks

Canadian authorities have made a breakthrough in a high-profile cybercrime case by arresting a...

More like this

DOD’s Terry Kalka discusses how cloud services have aided in threat detection

In a recent interview, Terry Kalka, the Director of the Defense Industrial Base Collaborative...

APT36 Hackers Targeting Windows Devices Using ElizaRAT

In recent news, a sophisticated threat actor known as APT36 has been actively targeting...

Influencing People to Win in Cyber

Implementing a zero trust approach in an organization is a complex and multi-faceted process...
en_USEnglish