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Major banks and airlines across the world reported online outages on June 17. Commonwealth Bank, Australia's largest financial firm, told news agency AFP that it and many of the country's large banks had been affected.
Westpac and ME Bank also reported problems with their mobile applications or online banking products.
ANZ bank spokesperson told AFP that the incident was "related to an external provider" but also said that the connectivity had been restored and the most impacted services were back online.
Customers of several regional banks reported they were down too.
The outages reportedly started around 2.10 pm Sydney time (0510 GMT) and did not appear to be limited to the banking sector.
Virgin Australia said it "was one of many organisations to experience an outage with the Akamai content delivery system", adding that work was underway to prevent the roughly one-hour blackout from happening again.
Downdetector said a number of US airlines' websites and apps were also affected. American, Delta, United and Southwest airlines were among them, although all four websites appeared to be working shortly after.
The Hong Kong Exchanges & Clearing Ltd. also reportedly went down briefly.
Australia Post, the country's postal service, also said some services were hit by an "external outage".
Earlier this month major media and government websites, including the White House, The New York Times, Reddit and Amazon were temporarily down after a glitch with cloud computing services provider Fastly, which offers a service to websites around the world to speed up loading time for websites.
A series of high profile hack-for-ransom attacks have also left corporations around the world jittery over cybersecurity risks, although there was no indication the latest problems were caused by malicious actors.
Colonial Pipeline was briefly shuttered after an attack in May, and JBS, the world's largest meat producer, was forced to stop operations in the United States and Australia.
Both firms reportedly paid ransom to get operations back up and running.
The issue of cybersecurity was at the top of the agenda when US President Joe Biden and his Russian counterpart Vladimir Putin met in Geneva on June 16. Washington believes hackers who have extorted hundreds of millions of dollars from Western governments, companies and organisations operate from Russian soil.(With inputs from AFP)