(LONDON) Cyber attacks targeting the global bank transfer system have succeeded in stealing funds since February’s heist of $81 million from the Bangladesh central bank as hackers have become more sophisticated in their tactics, according to a SWIFT official and a previously undisclosed letter the organization sent to banks worldwide.
- The messaging network in a Nov. 2 letter seen by Reuters warned banks of the escalating threat to their systems, according to the SWIFT letter.
- The attacks and new hacking tactics underscore the continuing vulnerability of the SWIFT messaging network, which handles trillions of dollars in fund transfers daily.
- “The threat is very persistent, adaptive and sophisticated – and it is here to stay,” SWIFT said in the November letter to client banks, seen by Reuters. Continue reading