SWIFT to advise banks on security as Bangladesh hack details emerge


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  • Monday, 21 Mar 2016

The Swift code bank logo is displayed on an iPhone 6s on top of Euro banknotes in this file illustration photo January 26, 2016. In February 2013, the Philippines was up against a deadline to amend its Anti-Money Laundering Act and get itself off the 'grey list' of a global watchdog, and lawmakers were bickering over whether to include casinos under the legislation. REUTERS/Dado Ruvic/Illustration/Files

The SWIFT messaging system plans to ask banks to make sure they are following recommended security practices following an unprecedented cyber attack on Bangladesh's central bank that yielded US$81mil (RM329.38mil), a spokeswoman for the group told Reuters. 

Brussels-based SWIFT, a cooperative owned by some 3,000 global financial institutions, will issue a written advisory on March 21 asking banks to review internal security, the spokeswoman said. 

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