UBS and Pictet Report Data Leak Affecting 130,000 Employees After Cyberattack on Supplier Chain IQ; Client Data Unaffected

Swiss banks UBS and Pictet have reported a data leak following a cyberattack on their shared supplier, the Zug-based procurement service provider Chain IQ. The breach, which occurred last week, involved the theft of information related to more than 130,000 UBS employees, including sensitive details such as direct telephone numbers. Despite the exposure of employee data, both banks confirmed that client information remains unaffected. The cyberattack also targeted 19 other companies, according to Chain IQ. Access to the compromised data has since been stopped. The incident has drawn warnings from regulatory bodies including the European Central Bank. UBS and Pictet continue to investigate the scope and impact of the attack as they work to enhance their cybersecurity measures.