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SWIFT Warns Banks of New Malware Threat

The global financial network SWIFT has warned international banks that they are facing a threat from a new wave of malicious software that allows attackers to steal money. In a statement issued to its customers and posted on its website, SWIFT said that the malware attack is believed to part of a broad and highly adaptive campaign targeting banks and that there is evidence that a number of banks have fallen victim to fraud as a result of their security measures being compromised.

According to SWIFT, the latest malware attack is based on corrupting a PDF read application banks use to view confirmations of payments. SWIFT asked banks to urgently review controls in their payments environments, to all their messaging, payments, and e-banking channels and consider engaging third parties to review their cyber security. It also said that the priority for banks should be in ensuring they have all preventative and detective measures in place to secure their environment. SWIFT declared that its own network, messaging systems and software has not been compromised by the attack yet.

News Characteristics

Date : May 13, 2016
Region : North America
Industry : Banks
Function : Risk Management
Sub-Function : Cyber Risk