Swift Could Ban Banks with Weak Security

Swift has released a new set of guidelines for its clients designed to improve baseline security.

By Phil Muncaster

Global financial messaging provider Swift is mooting the idea of dropping banks with weak security off its network, in a hardline approach which could force its clients to improve their response to recent cyber attacks.

Speaking ahead of the release of the organization’s “dedicated customer security program” last week, Swift CEO Gottfried Leibbrandt told the FT that the sophistication of these attacks – one of which resulted in the theft of $81m from Bangladesh Bank – had “changed the game completely.”

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Source: http://www.infosecurity-magazine.com/