SWIFT speaks on fraudulent messages and the security moves the cooperative is making to assist its customers

The February 2016 attack on Bangladesh Bank which involved the sending of fraudulent SWIFT messages from the bank’s environment, was followed by a number of other attacks on banks using the SWIFT network. The criminal hackers’ intention is to compromise the banks’ environments in order to gain their SWIFT credentials, send fraudulent messages and route payments to themselves. Since that time, the SWIFT cooperative has instituted measures ultimately designed to help their customers prevent, detect, stop or retrieve the fraudulent messages.

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