A notorious Russian ransomware group is claiming responsibility for a cyberattack on Swiss international bank Habib Bank AG Zurich, alleging the theft of sensitive customer information and the bank’s proprietary source code.
Qilin Claims Responsibility for a Massive Data Heist
The Qilin ransomware gang listed Habib Bank AG Zurich as a new victim on its dark web leak site on November 5, asserting that it exfiltrated more than 2.5 terabytes of data and nearly two million files.
Screenshots posted by the gang and reviewed by cybersecurity researchers appear to reveal passport numbers, bank account balances, payment notifications, and even source code for internal banking tools.
Listing a victim on a ransomware group’s blog is a well-known coercion tactic, often used to apply pressure on organizations to pay the ransom before attackers publish or sell the stolen data.
“Due to the broad scope of the potential breach, it is important for Habib Bank to act quickly in order to identify exactly what data was affected, inform affected customers, and audit the stolen source code for potential vulnerabilities,” Cybernews researchers stated. “The bank must also employ stricter monitoring of their servers and services to detect any further attempted attacks.”
Scope and Potential Impact of the Swiss Bank Cyberattack
If confirmed, the breach could have far-reaching consequences. Habib Bank AG Zurich operates in Switzerland, the United Kingdom, the United Arab Emirates, Hong Kong, Kenya, South Africa, and Canada, making it a globally connected financial institution whose compromise could affect both personal and corporate clients across continents.
The leaked samples suggest that attackers may have accessed:
- Passport numbers and other personally identifiable information
- Bank account balances and transaction histories
- Usage notifications revealing payments, amounts, and merchant details
- Source code from proprietary internal systems
Cybernews reached out to Habib Bank AG Zurich for comment, but no response has been received at the time of writing.
Habib Bank’s Global Footprint and Industry Context
Founded in 1967, Habib Bank AG Zurich has built a strong reputation in international banking, operating across major financial centers worldwide. As of 2024, the bank employed nearly 7,900 people across 587 offices and reported annual revenue of approximately 750 million U.S. dollars.
The institution also maintains representative offices in Bangladesh, China, Hong Kong, Pakistan, and Turkey, further broadening its international presence.
While the full extent of the breach remains under investigation, experts warn that this incident highlights the growing trend of financially motivated cyberattacks targeting multinational banking institutions. Attackers are increasingly turning to data extortion over traditional encryption-based ransomware, leveraging sensitive customer data as their most powerful bargaining chip.
