Pay Organisation Swift: there have been more security incidents

Apr

26

2016

The organization Swift warns that there have been more incidents involving internal and external parties were able to send SWIFT messages from financial institutions. The reason for the message is the bank robbery in Bangladesh, with 81 million dollars has been captured.

Swift logo Warning Swift was sent confidentially via the internal network, know to Reuters report . However, the message would the organization do not go into the affected institutions and the value of transactions. Swift, however, will be in the method used in the robbery in Bangladesh.

The organization called the attackers in that incident were able to obtain valid credentials of an employee who was authorized to create SWIFT messages and approve. In this way, the attackers themselves could send messages and ordering the transfer of large sums. Swift has released a security update, to install clients on 12th May. It is unclear what the content of the update is exactly.

Security researchers let Reuters know that it is expected that more such attacks will come to light. On the one hand because the warning of Swift will lead to institutes carrying out an internal investigation and on the other hand, since other criminals will verify following the hack and the captured amounts or they can perform the same attack. The potential profit would be very large and disproportionate.

Monday reported security firm BAE Systems that the robbery in Bangladesh was a highly sophisticated attack, which was deployed specially customized malware. This was written for the Swift client software ‘Alliance Access “, which is used by some institutions. That the attackers were able to self-paying jobs to perform Filipino bills, amounting to 81 million dollars. Other transfers, which were a total of reaching up to 951 million dollars, restrained by a bank employee encountered a spelling mistake in the name of the recipient.

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