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Strengthening Operational Resilience in the Cleared Ecosystem


Abstract: In November 2023, a ransomware attack on a U.S. subsidiary of the Industrial and Commercial Bank of China brought cyber risk into sharp relief for those who centrally clear financial transactions, especially on the heels of the cyber attack earlier that year on the Dublin-based ION financial trading services group.

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Provider: Federal Reserve Bank of Chicago

Publication Date: 2025-02