Spanish bank Globalcaja confirmed a ransomware attack on its local systems carried out by the Play ransomware group. The incident occurred last Thursday but did not compromise client accounts or the bank’s electronic banking platform. Globalcaja reassured customers that they can continue to conduct financial operations securely online and through ATMs. The bank has temporarily disabled certain office workstations as a precautionary measure.

While it is unknown if Globalcaja paid the ransom, cybersecurity experts advise against yielding to such demands as it does not guarantee the return or non-leakage of stolen data and only encourages further cybercriminal activity. Financial institutions are urged to implement security protocols and measures like network segmentation and complete network visibility to mitigate risks. High-profile attacks on financial institutions have been on the rise globally, emphasizing the need for robust security measures and customer awareness to prevent identity theft and fraud.

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