SWIFT Clarifies Reports About Banking Malware

SWIFT, the society of banks that provides secure financial messaging services, is pushing back on that malware has affected its global network and its core messaging services.

In a statement, the group said it was aware of a malware that aims to reduce financial institutions’ abilities to evidence fraudulent transactions on their local systems. The malware is said to have been installed in the systems of the central bank of Bangladesh, which recently lost US$81 million to hackers.

"We understand that the malware is designed to hide the traces of fraudulent payments from customers’ local database applications and can only be installed on users’ local systems by attackers that have successfully identified and exploited weaknesses in their local security," said SWIFT.

SWIFT stressed that its clients’ key defense continues to be the implementation of “appropriate security measures in their local environments to safeguard their systems.” Users themselves should put such protections in place “to prevent the injection of malware into, or any misappropriation of, their interfaces and other core systems.”

SWIFT has announced the launch of a new facility designed to “assist customers in enhancing their security and to spot inconsistencies in their local database records.” 

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