Tag: SWIFT System

Capital and Risk, Operational

Global bank messaging system calls in help to bolster cyber defences

July 11, 2016

Via: Reuters

SWIFT, a messaging system used by banks across the world, announced further steps on Monday to bolster its defenses against hackers, after criminals sent fraudulent payment instructions across its network. The Society for Worldwide Interbank Financial Telecommunication said it has […]

Capital and Risk, Operational

Cyber Bank Thieves Stole $12M from Ecuador Bank in 2015, Using SWIFT System

May 24, 2016

Via: Insurance Journal

Shortly after 7 p.m. on January 12, 2015, a message from a secure computer terminal at Banco del Austro (BDA) in Ecuador instructed San Francisco-based Wells Fargo to transfer money to bank accounts in Hong Kong. Wells Fargo complied. Over […]