UBS Confirms Data Breach After Cyberattack on External Vendor

Posted on July 9th, 2025 at 2:43 PM
UBS Confirms Data Breach After Cyberattack on External Vendor

From the desk of Jim Eccleston at Eccleston Law

UBS Group AG has confirmed that a cyberattack on one of its third-party suppliers resulted in stolen company information, though no client data was compromised. The breach underscores the growing operational risks financial institutions face when outsourcing key services, according to ThinkAdvisor.

Swiss newspaper Le Temps first reported the breach, linking it to a ransomware attack on procurement services firm Chain IQ. The hackers, operating under the name World Leaks, formerly Hunters International, reportedly leaked data on the darknet, including details of more than 130,000 employees. UBS declined to confirm specifics of the compromised information. ThinkAdvisor reports that Switzerland’s financial regulator has raised alarms about the increasing frequency and sophistication of cyberattacks targeting financial firms. Successful incidents reportedly jumped nearly 50 percent in 2024, with regulators warning that outsourcing critical functions heightens exposure to those risks.

Similar vulnerabilities have surfaced elsewhere in Europe. Last year, ABN Amro and Banco Santander both disclosed breaches involving external vendors. European Central Bank officials have since urged financial institutions to strengthen cyber defenses and reassess third-party risk management, according to ThinkAdvisor.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, ubs

Return to Archive

TESTIMONIALS

Previous
Next

I learned two important things working with Eccleston Law. First, I made a friend and ally with Jim and Steph for life. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. Jim was referred to me by a most trusted source. I've never had to hire an attorney for anything. Now, I know the value of hiring an important partner. Meticulous, thorough and detailed in preparation is the best way to describe Jim. Brilliant too, I might add. Bottom line, I would highly highly recommend Jim and Stephany for your legal needs. One of the best life decisions I've ever made.

Howard S.

LATEST NEWS AND ARTICLES

December 11, 2025
DOJ Secures Five-Year Prison Sentence in Wolf Capital Crypto Fraud Case

Federal prosecutors have obtained a five-year prison sentence for Travis Ford, an Oklahoma resident who admitted to orchestrating a fraudulent crypto investment scheme through Wolf Capital.

December 10, 2025
SEC Highlights Rising Risks in RIA Consolidation and Focuses on Retailer Investor Protection

The Securities and Exchange Commission signaled heightened scrutiny of investment advisers involved in mergers and acquisitions, according to its newly released 2026 Examination Priorities.

December 9, 2025
The Vanishing Boundary Between Investing and Gambling

According to Bloomberg Law, there now are the tools, tactics, and a psychology of gambling that increasingly resembles those of retail trading.