SWIFT Archives - CFO

Detecting Cyber Attacks Faster

Detecting Cyber Attacks Faster

Detecting a cyber attack faster can save a financial institution—or any company—millions of dollars in losses.

By Moshe Ben Simon | November 28, 2016

SWIFT to Add Daily Reports to Anti-Fraud Tools

SWIFT to Add Daily Reports to Anti-Fraud Tools

The financial messaging system has been beefing up customer security after a recent wave of high-profile cyberattacks.

By Matthew Heller | September 21, 2016

SWIFT Hires Security Firms to Fight Hackers

SWIFT Hires Security Firms to Fight Hackers

The addition of BAE Systems and Fox-IT to SWIFT's security team follows the use of its payment platform in a cyber attack on a Bangladesh bank.

By Christopher Hosford | July 11, 2016

SWIFT Launches Plan to Brace Network’s Security

SWIFT Launches Plan to Brace Network’s Security

SWIFT is stepping up efforts to share information among global financial institutions and develop security audit frameworks for customers.

By Katie Kuehner-Hebert | May 24, 2016

Vietnam Bank Reports Attempted Cyberheist

Vietnam Bank Reports Attempted Cyberheist

Tien Phong Bank says it thwarted an attack involving the same technique used in the theft from the Bangladesh central bank.

By Katie Kuehner-Hebert | May 16, 2016

N.Y. Fed, Bangladesh Bank Join Forces to Solve Cyber-Heist

N.Y. Fed, Bangladesh Bank Join Forces to Solve Cyber-Heist

The banks pledged to work together with SWIFT to solve the crime and recover the $81 million that is still missing.

By Matthew Heller | May 10, 2016

Bangladesh Bank Hack Exploited SWIFT Software

Bangladesh Bank Hack Exploited SWIFT Software

U.K. security researchers say the cyberattack is a warning to all financial institutions that run SWIFT Alliance Access and similar systems.

By Matthew Heller | April 26, 2016

FBI Says U.S. Banks Weren’t Hacked

FBI Says U.S. Banks Weren’t Hacked

"The FBI and USSS (U.S. Secret Service) have received no reports that Carbanak malware has affected the U.S. financial sector," said U.S. authorities.

By Katie Kuehner-Hebert | February 20, 2015

RMB Fever Spreads to One-Third of Banks

Corporate Finance

RMB Fever Spreads to One-Third of Banks

SWIFT reports that use of the Chinese currency continues to grow, especially in the United States and Europe.

By Matthew Heller | September 25, 2014

More U.S. Firms Use Chinese Currency Renminbi for Deals

More U.S. Firms Use Chinese Currency Renminbi for Deals

The RMB isn't yet a mainstream currency for cross-border transactions, but it may be in a few years.

By Iris Dorbian | July 19, 2014