by Huw Jones and Tom Bergin
The SWIFT secure messaging service that underpins international banking said on Tuesday it plans to launch a new security programme as it fights to rebuild its reputation in the wake of the Bangladesh Bank heist.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT)’s chief executive, Gottfried Leibbrandt, told a financial services conference in Brussels that SWIFT will launch a five-point plan later this week.
Banks send payment instructions to one another via SWIFT messages. In February, thieves hacked into the SWIFT system of the Bangladesh central bank, sending messages to the Federal Reserve Bank of New York allowing them to steal $81 million.