One of the largest banks in Europe confirms data loss after alleged cyberattack on its supplier
UBS Group AG
has confirmed that company information was stolen in a cyber attack targeting one of its suppliers. This follows a report claiming that a hacker compromised the data of more than 1,30,000 employees of its supplier Chain IQ. Earlier, Swiss newspaper Le Temps reported that the employee data was published on the darknet after a
ransomware attack
on
Chain IQ
, a procurement service provider that spun off from Europe's seventh-largest bank in 2013. A hacker group identified as World Leaks, previously known as Hunters International, is reportedly responsible for the attack, according to the report. However, UBS has not confirmed the specific nature of the information that has been lost in the incident.
What UBS said about the data breach
In a statement to Bloomberg, the Swiss bank said:
'A cyber-attack at an external supplier has led to information about UBS and several other companies being stolen. No client data has been affected. As soon as UBS became aware of the incident, it took swift and decisive action to avoid any impact on its operations.'
UBS' confirmation came after its supplier Chain IQ confirmed that it, along with 19 other companies, was targeted in a
cyberattack
. However, the supplier did not specify which data was compromised as well.
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The leaked information reportedly included UBS CEO Sergio Ermotti's direct phone number and employee details such as addresses and office floors.
Swiss private bank Pictet was also affected, but said the exposed data was limited to recent invoice details with some suppliers.
'The information obtained through the cyberattack on ChainIQ systems does not contain any client data of Pictet,'
the bank noted.
Recent increase in cyberattacks on European banks
In 2024, cyberattacks on Swiss financial institutions increased by nearly 50%, according to the country's financial regulator, which identified outsourcing critical operations to third parties as a major operational risk.
Elsewhere in Europe, the European Central Bank warned that some banks are still falling short in addressing cyber threats, pointing to
data breach
es at ABN Amro and Banco Santander caused by hacks at external suppliers.
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