Swift has revealed a service designed to help banks spot fraudulent messages and avoid a repeat of the now infamous Bangladesh Bank hack.
Swift under pressure from hacking group NSA claims
Customers are able to integrate the service directly into their Swift messaging flows, making it easier to detect unusual patterns, screening the messages according to their own chosen risk and compliance policies.
Launched as a hosted utility, meaning no hardware or software installation or maintenance, the service will be initially targeted at smaller financial institutions and central banks struggling to meet new, more stringent security rules.
However, as this roll-out begins, Swift and EastNets have been implicated by a Russian hacking group that the US National Security Agency accessed a backdoor to the bank network and planted spyware and monitor data traffic from a number of Middle East banks.
In a statement, EastNets said the published documents lacked credibility and the claims made by the hackers were “totally false and unfounded”.
“The EastNets Network internal Security Unit has run a complete check of its servers and found no hacker compromise or any vulnerabilities,” the company said.
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