Swift | Breaking Cybersecurity News | The Hacker News

Bangladesh is not the only bank that had become victim to the cyber heist . In fact, it appears to be just a part of the widespread cyber attack on global banking and financial sector by hackers who target the backbone of the world financial system, SWIFT. Yes, the global banking messaging system that thousands of banks and companies around the world use to transfer Billions of dollars in transfers each day is under attack. A third case involving SWIFT has emerged in which cyber criminals have stolen about $12 million from an Ecuadorian bank that contained numerous similarities of later attacks against Bangladesh's central bank that lost $81 Million in the cyber heist . The attack on Banco del Austro (BDA) in Ecuador occurred in January 2015 and, revealed via a lawsuit filed by BDA against Wells Fargo, a San Francisco-based bank on Jan. 28, Reuters reported. Here's how cyber criminals target banks: Uses malware to circumvent local security systems of a bank. Gains acces

SWIFT, the global Society for Worldwide Interbank Financial Telecommunications, warned on Thursday of a second malware attack similar to the Bangladesh central bank hack one that led to $81 million cyber heist. In February,  $81 Million cyberheist at the Bangladesh central bank was carried out by hacking into SWIFT, the global financial messaging system that thousands of banks and companies around the world use to transfer billions of dollars every day. However, the hackers behind the cyber heist appear to be part of a comprehensive online attack on global banking and financial infrastructure. The second attack involving SWIFT targeted a commercial bank, which the company declined to identify. SWIFT also did not immediately clear how much money, if any, was stolen in the attack. However, SWIFT spokeswoman Natasha de Teran said that the second attack and the Bangladesh bank heist contained numerous similarities and were very likely part of a "wider and highly adaptive

As a vCISO, you are responsible for your client's cybersecurity strategy and risk governance. This incorporates multiple disciplines, from research to execution to reporting. Recently, we published a comprehensive playbook for vCISOs, "Your First 100 Days as a vCISO – 5 Steps to Success" , which covers all the phases entailed in launching a successful vCISO engagement, along with recommended actions to take, and step-by-step examples.  Following the success of the playbook and the requests that have come in from the MSP/MSSP community, we decided to drill down into specific parts of vCISO reporting and provide more color and examples. In this article, we focus on how to create compelling narratives within a report, which has a significant impact on the overall MSP/MSSP value proposition.  This article brings the highlights of a recent guided workshop we held, covering what makes a successful report and how it can be used to enhance engagement with your cyber security clients.

In Brief Investigators from British defense contractor BAE Systems discovered that hackers who stole $81 million from the Bangladesh Central Bank actually hacked into software from SWIFT financial platform, a key part of the global financial system. The hackers used a custom-made malware to hide evidence and go undetected by erasing records of illicit transfers with the help of compromised SWIFT system. The Bangladesh Bank hackers, who managed to steal $81 Million from the bank last month in one of the largest bank heists in history, actually made their tracks clear after hacking into SWIFT, the heart of the global financial system. SWIFT , stands for the Society for Worldwide Interbank Financial Telecommunications, is a global messaging network used for most international money and security transfers. More than 11,000 Global Banks on HIGH ALERT! Nearly 11,000 Banks and other financial institutions around the World use SWIFT system to send securely and receive payment