Cyberattack Hits Major Iranian Banks

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.