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When security isn’t so SWIFT

Discussion in 'CSO' started by RSS, May 3, 2016.

  1. RSS

    RSS New Member Member

    There are times where I sit quietly in dumbfounded amazement at the world. When you’ve been working in the information security space for a couple decades one would think that you’ve seen it all. This has proven itself time and again as not the case.

    Last week news broke that thieves had managed to break into the Bangladesh central back and siphon away roughly $81 million USD. I had to shake my head the first read the news. It sound like an outlandish film plot. The only thing that was missing were the car chases and explosions and we might have something.

    SWIFT, which stands for Society for Worldwide Interbank Financial Telecommunication is positioned as secure financial network that banks use for payment authorizations. For an example, if you’re making a wire transfer between the US and Canada you would need the SWIFT number of your financial organization for the transaction.

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