The news that SWIFT messages have been used to steal frombanks has added to companies' cyber concerns recently. Forbusinesses that use the financial messaging network, those worriesmay make connecting to SWIFT via a service bureau, already the route formany companies, a more popular option.
“Corporates are very concerned about what's happening in thiscurrent environment,” said Matteo Monaco, vice president of paymentsolutions at FIS, the banking and payments technology company thatpurchased SunGard last year.
The bank heists that were perpetrated using SWIFT messages haveinvolved large sums. Most notably, in February cyber criminals stole $81 million from the central bank ofBangladesh's account at the New York Fed. Since then, therehave been reports of similar incidents, successful or attempted, at otheroverseas banks.
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Susan Kelly
Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.
