Report: SWIFT Screwed Up

Image Source: Article

Image Source: Article

That's the takeaway from a new report into the information security practices of SWIFT, which alleges that the organization overlooked serious concerns relating to smaller banks' security and the risks they posed to the health of its entire network.

More than 11,000 institutions in over 200 countries move money using the messaging system maintained by Brussels-based, bank-owned cooperative SWIFT, formally known as the Society for Worldwide Interbank Financial Telecommunication.

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