Ransomware attack on China’s biggest bank disrupts Treasury market trades

BEIJING (AP) — U.S. Treasury says it’s in contact with financial regulators after China’s biggest bank says it experienced a ransomware attack that reportedly disrupted trading in the U.S. Treasury market. Industrial and Commercial Bank of China Financial Services handles trades and other services for financial institutions. A statement on its website said the ransomware attack Wednesday disrupted some of its systems but that it had taken steps to limit the impact from the attack. The company said it was investigating and had reported the problem to the authorities. It said that all Treasury trades executed Wednesday and repo financing trades on Thursday were cleared.