SWIFT hires two cybersecurity firms in wake of digital heists

In reaction to a rash of cyberheists against its clients, SWIFT has hired two cybersecurity firms and also created its own Customer Security Intelligence team.
In reaction to a rash of cyberheists against its clients, SWIFT has hired two cybersecurity firms and also created its own Customer Security Intelligence team.

SWIFT, the financial messaging cooperative beleaguered by multi-million-dollar cybertheft attacks against its banking industry clients, announced today that it hired two cybersecurity firms and also created its own Customer Security Intelligence team in order to bolster cyber defenses, strengthen forensic investigations and promote information sharing.

According to a release, the Brussels-based Society for Worldwide Interbank Financial Telecommunication hired firms BAE Systems and Fox-IT to work alongside its own in-house cybersecurity team. It was BAE that previously disclosed that cybercriminals placed malware on SWIFT's Alliance Access server software to cover up fraudulent transfers between financial institutions that use the platform (including Bangladesh's central bank).

SWIFT also announced that its information sharing initiative now includes “detailed intelligence and analysis on the modus operandi of attackers in recent customer fraud cases.” The cooperative also has published an inventory of known malware and indicators of compromise related to the online heists.

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