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Latest Cyber Heist Shows SWIFT Network Under Attack

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Mark Melin
Published on
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Criminals have successfully launched a cyber heist against the world’s most secure bank network, raising the specter of this second attack deep inside the system is signaling a broader war on the global banking network.

Cyber heist breaches SWIFT international monetary transfer method

International thieves have breached SWIFT, the international bank financial messaging system used to transfer billions of dollars around the world each day, The New York Times and Reuters are reporting. The successful breach of the system targeted an unnamed commercial bank within the nearly 11,000 member system, SWIFT spokesperson Natasha de Teran was quoted as saying.

 

Cyber heistThe amount taken was not immediately clear and comes on the heels of an $81...

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.