Intesa Sanpaolo says most operations recovered after ION ransomware attack

LONDON (Reuters) – Intesa Sanpaolo said on Thursday that most of its affected derivatives clearing operations have been restored and are operational after a ransomware attack on financial data firm ION impacted the operations of an Italian bank.

On January 31st, ION Markets UK’s cleared derivatives section came under a ransomware attack.

The attack swept through the derivatives markets, blocking the trading and clearing of exchange-traded derivatives at some of the world’s largest banks and financial institutions, including Intesa Sanpaolo.

Intesa said the situation improved on Thursday as ION struggled to get its customers back up and running.

“We have taken swift action to avoid a complete suspension of operations related to the exchange-traded derivatives segment,” a spokesman for the bank told Reuters. “Most operations have now been restored.”

“We also immediately ran a security check to protect our customers and to make sure our own systems were not infected.”

An ION spokesperson said they reconnected some customers to their services on Tuesday and that work continued on Thursday.

(Reporting by Harry Robertson; editing by Amanda Cooper)

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