The Industrial and Commercial Bank of China (ICBC) – the bank in China with the largest amount of assets – experienced a system failure on June 23, which caused problems with ATMs, online banking, telephone banking and various businesses.
Reportedly, system error messages appeared on many websites when customers attempted to complete transactions. Many areas including Beijing, Shanghai, Wuhan and Sichuan were affected.
A spokesperson for ICBC stated that the failure was down to the undertaking of a system upgrade, and that currently everything is back to normal.
In lieu of the recent Edward Snowden story and his revelations regarding the use of “Prism”—a controversial monitoring software developed by Cisco and allegedly used by the US government—some have speculated that the failure could have been the work of hackers.
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Keywords: ICBC system failure Edward Snowden story
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