25 April 2016

SWIFT comments on malware reports

No impact on SWIFT’s network or core messaging services

Brussels 25 April 2016 - SWIFT is aware of a malware that aims to reduce financial institutions’ abilities to evidence fraudulent transactions on their local systems. Contrary to reports that suggest otherwise, this malware has no impact on SWIFT’s network or core messaging services.

We understand that the malware is designed to hide the traces of fraudulent payments from customers’ local database applications and can only be installed on users’ local systems by attackers that have successfully identified and exploited weaknesses in their local security.

We have developed a facility to assist customers in enhancing their security and to spot inconsistencies in their local database records, however the key defence against such attack scenarios remains for users to implement appropriate security measures in their local environments to safeguard their systems - in particular those used to access SWIFT - against such potential security threats. Such protections should be implemented by users to prevent the injection of malware into, or any misappropriation of, their interfaces and other core systems.

SWIFT is making customers aware of the new facility through its ongoing Security Campaign.

 

About SWIFT
SWIFT is a global member-owned cooperative and the world’s leading provider of secure financial messaging services.

We provide our community with a platform for messaging and standards for communicating, and we offer products and services to facilitate access and integration, identification, analysis and financial crime compliance.

Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories, enabling them to communicate securely and exchange standardised financial messages in a reliable way.  As their trusted provider, we facilitate global and local financial flows, support trade and commerce all around the world; we relentlessly pursue operational excellence and continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies.

Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres.

For more information, visit www.swift.com or follow us on Twitter: @swiftcommunity and LinkedIn: SWIFT


Contacts:
Brunswick Group LLP
swift@brunswickgroup.com
Tel: +44 (0)20 7404 5959