Global bank messaging system calls in help to bolster cyber defenses

Image Source: Article

Image Source: Article

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 hired two outside cyber security firms, BAE Systems and Fox-IT, to reinforce in-house expertise, and has set up a team to share cyber defense "best practice" among its customers.

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