SWIFT announces security boost to thwart cyberattacks

Following a spate of recent incidents involving some of its customers, SWIFT has announced new measures it is looking to implement to keep cyberattacks at bay.

Information sharing is one of the key ways in which it will do this, the global provider of secure financial messaging services said.

First on its agenda is centralizing “all new and existing security information though KB tip 5020928”, which is located in the restricted customer section of its main website.

“We will update this tip with relevant information, including any new customer malwares or other indicators of compromise (IOCs) supporting the same modus operandi we have seen in the previous cases,” SWIFT explained.

“We recommend that you have your IT security team review this information today and on an ongoing basis.”

It added that from this point onwards, all known attacks on its customers will be shared on this specific KB tip, providing security teams at banks, for example, will all the information needed to shore up their defenses.

SWIFT was keen to emphasize the importance of collaboration when it comes to dealing with cyberattacks.

It reminded customers that they need to disclose information about suspected or actual cyberattacks.

SWIFT recently responded to claims that its technicians were to blame for the data breach at Bangladesh Bank by stating that the comments were spurious.

It said: “SWIFT was not responsible for any of the issues cited by the officials, or party to the related decisions.

“As a SWIFT user like any other, Bangladesh Bank is responsible for the security of its own systems interfacing with the SWIFT network and their related environment.”

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