Analysis

What the SWIFT Breaches Mean for Cyber - Resilience

Stroz Friedberg is a specialized risk management firm built to help clients solve the complex challenges prevalent in today’s digital, connected, and regulated business world

What the SWIFT Breaches Mean for Cyber - Resilience

In February, hackers breached the Society for Worldwide Interbank Financial Telecommunication (SWIFT) account belonging to Bangladesh’s central bank and initiated illicit transfers from the Federal Reserve Bank of New York, resulting in the theft of $81 million. While details about the SWIFT hack and precisely how malicious actors gained access have yet to be revealed, SWIFT officials have ordered member banks around the world to perform compliance checks on their cybersecurity measures, and the FBI has asked banks to search for evidence of breaches within their systems.

Download the full PDF to where we cover:

  • Primary lesson of the SWIFT hack
  • Ongoing considerations
  • The role of corporate culture in cyber-resilience
  • Building risk management into the ecosystem of a company
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