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  Cybercrime: New SWIFT Rules Against Digital Bank Robbery | Bit Updates
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Cybercrime: New SWIFT Rules Against Digital Bank Robbery

Friday, December 8th, 2017 | bitcoin updates

      
    
  Cybercrime: New SWIFT rules against digital bank robbery

      

    

    
    
      
          07.12.2017 14:10 UhrMoritz Förster
          
      
      
      
      
    

    
        
            
        
        
    
    
    
              Following a sensational $ 81 million prey attack, SWIFT has developed new rules for financial service providers. An article of the current iX goes into the background of the CSP.
            
            
            
            A spectacular raid could only be prevented by manual controls, but still captured cybercriminals in February 2016 still about 81 million US dollars. Lucky for misfortune, because as André Clerc writes in the current iX 12/2017, the heavy guys have targeted more than $ 950 million from the Bangladesh Bank account at the Federal Reserve Bank of New York.
What really sounds like a remake of the third Die Slow for the digital age, should occur over the course of the year again and again. Criminals took advantage of weaknesses of the bank's components to inject fake payment orders into the system of SWIFT. After getting into the IT of a financial institution, the retrieval of user data of an employee followed; the fake orders appeared like real thanks to a manipulated PDF program.
New Customer Security Program
SWIFT did not hesitate for long with such sums of money and a sector that was actually feared for its safety: its own systems remained untouched – but because the attackers could simply exploit the weakest links in the chain, SWIFT called the customer for all BIC 8 owners Security Program (CSP) into life.
Specifically, security controls are based on international standards, but many companies may still need time to implement them. In any case, it is worthwhile not only to secure the infrastructure connected to the system of SWIFT as required, but also to bring the entire in-house IT to a standstill.
But not only internal IT measures are in the pipeline, SWIFT also wants to ensure that all companies can plan more strongly in the event of an attack, recognize the latter and above all exchange information about attacks. Interested parties will find more details about the CSP, the Customer Security Controls Framework and the planned timeframe of their implementation.
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