Cyber Security

SWIFT hopes to thwart fraudsters with detection system in wake of bank heist

“The banking communications network, which allows financial institutions across the world to send each other secure messages about their transactions, is introducing ‘Daily Validation Reports,’ which it bills as a mechanism to help customers detect unusual patterns in their message flows, and give them more of a chance ‘to identify possible fraud attempts and improving the likelihood they can cancel any fraudulent transfers.'”

Source: SWIFT hopes to thwart fraudsters with detection system in wake of bank heist | Ars Technica UK

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