Heists last year – SWIFT defense solution

Reuters news told that a heist occurred in Russia Bank last year. Unknown hackers stole 339.5 million roubles ($6 million) from a Russian bank last year in an attack using the SWIFT international payments messaging system. Perhaps we are not going speculating the reason to delaying the public announcemnt. Yes, it may be for forensic investigation and trace the hacker silently or protect the reputation. But the design weakness will be replace by new solution soon. For more details, please see below:

Defense solution given by SWIFT:

  • Conventional FIN messages (e.g. MT202) can be used until 16 November 2018. Communication takes place through the SWIFTNet, and the SWIFT FIN service will be used until 16 November 2018.
  • As of 17 November 2018, all participants must use ISO 20022 and the SWIFT InterAct service will be used for communication.

Headline News by Reuters (16th Feb 2018)


ISO 20022 for US wire transfer systems Timeline

2 thoughts on “Heists last year – SWIFT defense solution”

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