UBS Confirms Cyber attack on Supplier Chain IQ, Exposed Employee Data of 130,000+ Staff

UBS Group AG reported that information about the company was stolen in a cyber attack on one of its suppliers, Chain IQ, a procurement‑service business spun off from UBS in 2013, Bloomberg reported.

This followed a report by Swiss newspaper Le Temps, which stated that data on more than 130,000 employees had been compromised.

In a statement on Wednesday, the Zürich‑based bank confirmed that a cyberattack on an external supplier resulted in the theft of information about UBS and several other companies, stating, “A cyber‑attack at an external supplier has led to information about UBS and several other companies being stolen.” The bank further clarified, “No client data has been affected. As soon as UBS became aware of the incident, it took swift and decisive action to avoid any impact on its operations.”

Data‑Leak Reports

Le Temps reported that the ransomware attack on Chain IQ, carried out by hacker group World Leaks (formerly Hunters International), led to employee data, including addresses and floor information being leaked on the darknet. Additionally, the direct phone number of UBS chief executive Sergio Ermotti was compromised, according to Le Temps.

Swiss private bank Pictet, also impacted by the attack, confirmed that the leaked information was limited to invoice data from a few vendors in recent years and did not include client information. Pictet stated, “The information obtained through the cyberattack on Chain IQ systems does not contain any client data of Pictet.”

Chain IQ reported that it, along with 19 other companies, was a victim of the cyberattack, resulting in a data leak exposed on the darknet. The company stated that it took swift steps and countermeasures and that the issue has been contained.

UBS Layoffs

Earlier this year UBS intensified its cost‑cutting efforts following its expedited acquisition of Credit Suisse completed last year, eliminating thousands of jobs to boost earnings.

According to a regulatory filing, the Swiss bank announced on Tuesday its goal to achieve $ 13 billion in savings by reducing gross costs by 2026, a $ 3 billion increase from the target announced six months earlier.

UBS has already reduced costs by $ 4 billion, partly through layoffs, representing nearly one‑third of its current target. In the fourth quarter alone the company eliminated more than 3,100 positions, reducing its total headcount to below 113,000.