UBS and Pictet report data leak after cyber attack on provider, client data unaffected

Share

security, cyber, technology-4868162.jpg
Share

ZURICH, June 18 – Swiss banks UBS  and Pictet said on Wednesday they had suffered a data leak due to a cyber-attack on a provider in Switzerland that did not compromise client information, although a report said thousands of UBS workers’ data was affected.

Swiss newspaper Le Temps said that files containing details of tens of thousands of UBS employees were stolen from the Baar-based business service company Chain IQ, whose website lists KPMG and Mizuho among its clients.

“A cyber-attack at an external supplier has led to information about UBS and several other companies being stolen. No client data has been affected,” UBS said.

“As soon as UBS became aware of the incident, it took swift and decisive action to avoid any impact on its operations.”

The leaked cache also included the number of a direct internal line to UBS CEO Sergio Ermotti, Le Temps reported.

Chain IQ said it and 19 other companies were targeted in the attack, resulting in leaked data being published online on the darknet – a part of the internet not accessible through standard search engines.

Steps and countermeasures were promptly taken and the situation was contained, it said in a statement.

Swiss financial market regulator Finma said it was aware of the incident and was handling it in line with established procedures.

In a statement, KPMG said its infrastructure has not been affected by the cyber-attack, but that it had put added safeguards in place after news of the leak.

Chain IQ, which said the data was published on the afternoon of June 12, said that it could not provide any information on potential ransom demands or interactions with the attackers for security and investigative reasons.

Private bank Pictet said the information stolen did not contain its client data and was limited to invoice information with some of the bank’s suppliers, such as technology providers and external consultants.

Pictet said it took data breaches seriously and had protocols and agreements in place to stop unauthorised access.

The attack was a reminder that third parties can leave even the biggest institutions exposed and that could have a potential long-term impact on Swiss banking, said Ilia Kolochenko, CEO of a Swiss-based security firm ImmuniWeb.

Source: Reuters

Share

Latest

Related Content

Media Kit

    Data Protection

    The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

      Error: Contact form not found.

      The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

      COVID-19
      Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

      Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

      The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

      Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

      Request Nomination Pack

      Error: Contact form not found.