Tag: swift

Bangladesh Central Bank Hack May Be Linked To Other Attacks Around The World

In February, Bangladesh Central Bank lost $81 million to hackers, three months after the attack, authorities have uncovered three more incidents that may be linked together, SWIFT CEO reveals plans to strengthen the security of its operations. The first uncovered case was actually the last attack carried out by the hackers, in February, a group of cybercriminals used stolen credentials from employees of Bangladesh’s Central Bank to validate over thirty wire …
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SWIFT Introduces New Centralized Cyber Security Resources

After all of the negative attention the SWIFT team had to deal with over the past few months, it looks like they have finally taken the right decision by doubling down on security. New security resources have been developed, which should help prevent these fraudulent attacks from happening in the first place. The New SWIFT Security Resources With three banks in total being infiltrated by assailants who stole credentials to …
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Ecuador Bank Claims To Have Suffered From A SWIFT Breach In 2015

The SWIFT story is far from over, as yet another bank says they have lost funds during the 2015 attack. A bank in Ecuador claims they have been attacked in the same way as Bangladesh bank back in 2015, resulting in a US$12m loss. Smaller Banks Give SWIFT Team More Worries Contrary to popular belief, the SWIFT protocol has not been taken advantage of twice, but three times in less …
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European Central Bank Addresses Cybercrime Threat With A Database Solution

Cybersecurity is becoming a grave concern for anyone involved in the financial industry these days, as traditional solutions are no longer sufficient. The European Central Bank wants to set up a database registering all cybercrime incidents taking place at commercial banks. European Central Bank Still Doesn’t Get It Rather than looking at solutions to ensure cybercrime cannot take place to begin with, the European Central Bank wants to create a …
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