EquiLend, the global fintech powerhouse, downed by a cyberattack

New York-based fintech firm EquiLend has been forced offline following a cyber security incident on Monday. The company has detected unauthorised access to its network and is working to restore affected services. EquiLend has hired third-party experts to assist with the investigation and restoration. It has not yet been disclosed whether any company or customer data was exposed or stolen. The attack took place less than a week after EquiLend announced an acquisition by US private equity firm Welsh, Carson, Anderson & Stowe. The FBI has warned that ransomware gangs are targeting firms involved in time-sensitive financial events as it makes it easier for them to extort their victims.