SWIFT CEO promises security improvements
Found on The Register on Tuesday, 24 May 2016
The head of the SWIFT financial network has put forward a five-part plan to improve security after its systems were the focus of several cyberattacks.
Security experts pointed out that SWIFT's security systems were out of step with the modern world. Its security guidelines are "outdated and incomplete," said one analysis. Its systems were set up to deal with "the types of attacks that were prevalent a decade ago," and the network fails to safeguard against today's more sophisticated hacks – like the one suffered by the Bangladeshi bank.
If you want to process millions every day, you better invest a lot of money to make sure your systems are secure, and your processes are up to date so they can deal with the attack scenarios of today.