China's banks seen as vulnerable after ransomware attack on ICBC

HONG KONG -- The recent hacking of the Industrial and Commercial Bank of China (ICBC), the world's largest bank by assets, is raising fears about the vulnerability of other mainland lenders to ransomware attacks, market participants say. On Nov. 8, a New York unit of ICBC disconnected its system from the U.S. Treasury market after it experienced a ransomware attack, in which hackers threaten to block access to data unless they were paid. It remains unclear when the bank will restore the connection.