Global financial network, Swift, which banks use to transfer $81m every day, has admitted that it has been hacked a number of times where attackers have sent fraudulent messages over its system. Swift has urged 11,000 financial institutions to update their software after billions of dollars was stolen from the Bangladesh central bank account; it says the scheme involved altering Swift software on Bangladesh Bank's computers so as to hide evidence of fraudulent transfers. Cyber security experts are warning now that more attacks could surface as Swift banking clients look to see if their access had been compromised.
Global financial network, Swift, which banks use to transfer billions of dollars every day, has admitted that it has been hacked a number of times where attackers have sent fraudulent messages over its system. Swift has urged 11,000 financial institutions to update their software after $81m was stolen from the Bangladesh central bank account; it says the scheme involved altering Swift software on Bangladesh Bank's computers so as to hide evidence of fraudulent transfers. Cyber security experts are warning now that more attacks could surface as Swift banking clients look to see if their access had been compromised.