Swift bank transfer system

Swift: fraudulent messages sent over international bank transfer system

Swift, the global financial network that banks use to transfer billions of dollars every day, has warned its customers it is aware of “a number of recent cyber incidents” where attackers had sent fraudulent messages over its system.

The disclosure came as law enforcement authorities in Bangladesh and elsewhere investigated the cyber theft of US$81m (£55.9m) from the Bangladesh central bank account at the New York Federal Reserve. Swift has acknowledged the scheme involved altering Swift software on Bangladesh Bank’s computers to hide evidence of fraudulent transfers.