Hackers getting smarter in their attacks on global bank transfer system — Swift
The Swift messaging network has warned banks of a rising threat to their system from cyber attackers whose tactics are becoming more polished
London/Boston — Cyber hackers attacking the global bank transfer system have kept stealing funds since February’s heist of $81m from the Bangladesh central bank as their tactics become more sophisticated. That’s according to an official of the Swift messaging network and a previously undisclosed letter it sent to banks worldwide on November 2. Swift warned banks of threat to their systems rising. The attacks and new hacking tactics underscore the continuing vulnerability of the Swift messaging network, which handles trillions of dollars in fund transfers daily. "The threat is very persistent, adaptive and sophisticated — and it is here to stay," Swift said in the letter to client banks, seen by Reuters. The disclosures provide fresh evidence that Swift remains at risk of attacks nearly a year after funds were stolen from a Bangladesh Bank account at the Federal Reserve Bank of New York. The unprecedented cyber theft prompted regulators around the globe to tighten bank-security requi...
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