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Swift Cites More Bank Hacks

Victims had weaknesses in their local security, group says.

By Alan Katz, Bloomberg | Updated on August 31, 2016

Cyberattacks that aim to fraudulently use banks’ connections to the Swift messaging system have continued over the past few months, showing that the threat hasn’t subsided after hackers used the global service in February to steal $81 million from Bangladesh’s central bank.

Many of the attacks have been thwarted, Swift said in a letter to customers dated Aug. 30, either by correspondents stopping suspicious messages or as a result of tightened customer security processes implemented with Swift’s help. But others have succeeded.

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