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SWIFT, the financial messaging system used by 11,000 banks throughout the world, admitted this week that it’s vulnerable to hackers if they penetrate its member financial institutions. It shouldn’t be major news: Thieves go where the money is, and more than half of the 25.8 million messages a day that the network carried in March were meant to transfer money. Yet SWIFT’s hacker problem is a great illustration of how globalized finance can get out of hand.

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