Wall Street firm hit by cyberattack that has knocked systems offline

-

 


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 

Comments

Post a Comment

Popular posts from this blog

The Imperva Content Delivery Network (CDN) to Improve website experience globally

-
Image
Today’s website visitors expect a fast and efficient user experience with no delays or site performance issues. However, high traffic volumes and global reaching websites mean website managers are faced with the challenge of added latency and slow page load times, which can result in lost business. According to WebSiteBuilderExpert.com, 1 in 4 site visitors would abandon a website that takes more than 4 seconds to load. And 46% of site visitors do not revisit poorly performing websites, according to Unbounce.com. A strong Content Delivery Network   (CDN) is critical for website managers and businesses that rely on their websites for success, and here are ten reasons why. Improve your engagement Faster site speed times and more responsive websites bring results in more conversions. As little as a  one-second delay  in page load time can reduce customer satisfaction by 16%. Slow page load times According to  Unbounce , ‘Nearly 70% of consumers admit that page speed influences their likel
Read more

CISA and ENISA enhance their Cooperation

-
Image
  The European Union Agency for Cybersecurity (ENISA) has signed a Working Arrangement with the Cybersecurity and Infrastructure Security Agency (CISA) of the US, in the areas of capacity-building, best practices exchange and boosting situational awareness. Geopolitics have shaped the cyber threat landscape, bringing like-minded partners closer together in the wake of common cyber challenges and advances in digital technologies. Today at the EU-US Cyber Dialogue, ENISA and CISA announced the signing of their Working Arrangement as an important milestone in the overall cooperation between the United States and the European Union in the field of cybersecurity, also following the Joint Statement of European Commissioner Thierry Breton and U.S. Secretary for Homeland Security Alejandro Mayorkas of January 2023. ENISA’s International Strategy directs the Agency to be selective in engaging with international partners and to limit its overall approach in international cooperation to those are
Read more

Introducing the Splunk App for Behavioral Profiling

-
Image
S plunk is the platform for a million use cases, used to investigate operational data across security, observability, fraud, business intelligence and many other domains. But, in my time at Splunk, I’ve come to realize that all of our customers face challenges that stem from the same core problem:  Within exploding data volumes, finding the anomalously behaving entities that are most threatening to the resilience of their organization. Introducing the Splunk App for Behavioral Profiling , a collection of workflows which enable you to operationalise detection and scoring of behavioral anomalies at scale in complex environments, correlated to profile and highlight the entities that are affecting resilience - designed to help:  Fraud Teams tasked with locating increasingly sophisticated attackers that employ evolving methods across physical and digital channels to avoid simplistic detection rules. IT Operations supporting modern infrastructure, services and solutions com
Read more