Swift ... a new security plan after the operations of electronic burglary

Views 44 Date 24/05/2016 - 18:48

Economy News / Follow-up ..

Global Financial Communications Society between banks (SWIFT) service provided to insured messages in international banking transactions said it plans to launch a new security program within the framework of its efforts to rebuild its reputation in the wake of cybersquatting process, which affected the Central Bank of Bangladesh.
Chief Executive of the Association Gottfried Ibrant will address the conference on financial services in Brussels to announce that the Assembly will launch a five-point plan later this week, according to Reuters.

Banks send payment instructions to each other through SWIFT messages. In February, thieves carried out an act of piracy on the electronic Swift Central Bank of Bangladesh's system and sent messages to the Federal Reserve Bank of New York allowed them to seize $ 81 million.

The incident came after the theft and two counts Mchabhettin in Ecuador and Vietnam, the first of which stole the robbers more than $ 12 million, while the second failed.

The banking sector fell confidence in Swift, based in Belgium-based and owned by its users after these three incidents.

Swift also will announce stricter rules pilot can to auditors and regulators use to assess the quality of Swift's security procedures adopted by the banks.

And it will fight to Ibrant again about the role of Swift will say that because of piracy occurred primarily because of user errors. However, some executives in the finance sector say that Swift were not active in improving security procedures to the extent that it should be.

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