News and Updates on Information Technology

Ecuador’s largest bank Banco Pichincha has suffered a cyberattack that disrupted operations

Exploit: Ransomware

Banco Pichincha: Banking & Financial Services

cybersecurity news gauge indicating extreme risk

Risk to Business: 1.412=Extreme

Ecuador’s largest private bank Banco Pichincha has suffered a suspected ransomware attack that has resulted in some systems being knocked offline for days. Many services of the bank were disrupted, including online banking, its mobile app, and ATM network. The bank is working with national authorities at the Superintendency of Banks to investigate the incident. In an internal notification sent to the Bank’s agencies and seen by BleepingComputer, employees are notified that bank applications, email, digital channels, and self-services will not be operational for an unspecified amount of time due to a technology issue, limiting many bank services to in-person transactions. Some ATM services have been restored. The incident is ongoing.

Individual Impact: No consumer PII or financial data exposure was disclosed in this incident as of press time.

Customers Impacted: Unknown

How It Could Affect Your Customers’ Business Attacks in the banking and fintech sectors have been growing, creating complications for every financial services organization.

Source: Bleeping Computer