http:\/\/www.reuters.com\/article\/us-cyber-heist-swift-idUSKCN11600C<\/p>\n
I found this article from this morning pretty interesting. SWIFT, which basically allows financial transactions between\u00a0banks worldwide, declared\u00a0that their were new cyber attacks on its member banks. They said that attacks have ramped up since the Bangladesh Bank lost $81 million dollars back in February’s cyber attack. The attackers are specifically targeting banks that lack proper security for “SWIFT-enabled transfers.”\u00a0It seems like SWIFT is having trouble with their member banks complying to security procedures. The biggest issue stated in this article is that SWIFT does not have “regulatory authority over its members.” So they cannot FORCE these banks to comply to\u00a0proper security controls.\u00a0SWIFT is threatening to disclose security lapses for these banks, which I don’t\u00a0see how it helps. Before these banks were capable of\u00a0using\u00a0the SWIFT transaction system, SWIFT should have sent their own IT auditors to make sure\u00a0these banks had\u00a0the proper IT security and controls in place. Otherwise, we will see problems like this where banks or companies in general, especially in developing countries, aren’t taking IT security seriously.<\/p>\n","protected":false},"excerpt":{"rendered":"
http:\/\/www.reuters.com\/article\/us-cyber-heist-swift-idUSKCN11600C I found this article from this morning pretty interesting. SWIFT, which basically allows financial transactions between\u00a0banks worldwide, declared\u00a0that their were new cyber attacks on its member banks. They said that attacks have ramped up since the Bangladesh Bank lost $81 million dollars back in February’s cyber attack. The attackers are specifically targeting banks that […]<\/p>\n","protected":false},"author":14261,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[714826],"tags":[],"class_list":{"0":"post-3154","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-week-02-its-role-the-control-environment","7":"entry"},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/posts\/3154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/users\/14261"}],"replies":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/comments?post=3154"}],"version-history":[{"count":3,"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/posts\/3154\/revisions"}],"predecessor-version":[{"id":3157,"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/posts\/3154\/revisions\/3157"}],"wp:attachment":[{"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/media?parent=3154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/categories?post=3154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/itacs5211fall16\/wp-json\/wp\/v2\/tags?post=3154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}