The White House has even considered an outright ban on firms making ransom payments. If companies can’t pay ransom, there’s no point in asking for it. ICBC’s self-identified attacker, a gang of digital extortionists called Lockbit, says ICBC paid up. Follow @AnitaRamaswamy on XCONTEXT NEWSThe Industrial and Commercial Bank of China’s U.S. arm was hit by a ransomware attack that disrupted some trades in the U.S. Treasury market on Nov. 9. A senior White House official said on Oct. 31 that the U.S. government planned to lead an alliance of 40 countries in a pledge to never pay ransom to cybercriminals.

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Persons: Joe Biden’s, cybercriminals, it’s, there’s, ICBC, –, reckons, John Foley, Aditya Sriwatsav Organizations: Reuters, Industrial, Commercial Bank of China, SS, Treasuries, Companies, Caesars Entertainment, Commercial Bank of China’s, U.S . Treasury, White House, ., Thomson Locations: U.S, United States, Commercial Bank of China’s U.S