Home News Business SWIFT urges banks to beef up security

SWIFT urges banks to beef up security


SWIFT, the global bank messaging system, late on Monday advised clients to pay close attention to security when selecting firms to help them access the network following the release of data that suggested the US government sought to spy on their clients.

“Customers should pay close attention (to) their own security and take security into consideration when selecting a service bureau and working with other third-party providers,” SWIFT, also known as the Society for Worldwide Interbank Financial Telecommunication, said in a press release.

A hacking group calling itself the Shadow Brokers released files that cyber security experts said suggest the US National Security Agency sought to monitor messaging traffic by hacking into the networks of two firms in the Middle East and Latin America known as service bureaus.

The NSA has not responded to requests for comment on the Shadow Brokers’ release but the data dumped by the group prompted bank security teams to work over the Easter weekend to learn more about hacking operations described in the documents.