Threat Management, Malware

SWIFT hires two cybersecurity firms in wake of digital heists

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.

Bradley Barth

As director of multimedia content strategy at CyberRisk Alliance, Bradley Barth develops content for online conferences, webcasts, podcasts video/multimedia projects — often serving as moderator or host. For nearly six years, he wrote and reported for SC Media as deputy editor and, before that, senior reporter. He was previously a program executive with the tech-focused PR firm Voxus. Past journalistic experience includes stints as business editor at Executive Technology, a staff writer at New York Sportscene and a freelance journalist covering travel and entertainment. In his spare time, Bradley also writes screenplays.

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