SWIFT banking network warns customers of cyberfraud cases

SWIFT, the international banking transactions network, has warned customers of “a number” of recent incidents in which criminals sent fraudulent messages through its system.

The warning from SWIFT (Society for Worldwide Interbank Financial Telecommunication) suggests that a February attack on the Bangladesh Bank, in which thieves got away with US $81 million, was not an isolated incident.

SWIFT is aware of malware that “aims to reduce financial institutions’ abilities” to find evidence of fraudulent transactions on their local systems, the organization said Tuesday. The malware has “no impact on SWIFT’s network or core messaging services,” it added.

To read this article in full or to leave a comment, please click here