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Cyberattack Hits Major Iranian Banks

Taarek Refaat Two of Iran's largest financial institutions Bank Sepah and Bank Pasargad were hit by a cyberattack that disrupted their operations, according to government spokeswoman Fatemeh Mohajerani. In a statement on Wednesday, Mohajerani confirmed the cyber intrusion and acknowledged resulting issues, including a sharp rise in demand for cash. 'We have witnessed an increase in demand for banknotes, and this problem in providing cash will be resolved soon,' she said. The attack also affected internet connectivity, as authorities implemented bandwidth restrictions to mitigate further breaches. 'The internet disruption is due to the occasional need to reduce network speed to counter cyberattacks,' Mohajerani explained. While Iran maintains a so-called 'national internet' infrastructure, Mohajerani emphasized that no shift to the closed domestic network would occur unless the situation escalates. 'As long as there is a non-emergency situation, the transition to the national internet will not take place,' she stated. The source of the attack has not been publicly disclosed, and both banks have yet to comment directly on the scope of the disruption. The incident comes amid heightened geopolitical tensions and follows a recent escalation in cyber and physical attacks involving Iranian infrastructure. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand