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The Evolving Cyber Threat to the Banking Community

A report by SWIFT and BAE Systems
There has been a significant evolution in the cyber threat facing the global financial industry and the groups behind these attacks are deploying ever more creative techniques to access critical infrastructure.
The evolving cyber threatGroups behind attacks on the financial services industry are deploying ever more creative techniques to access critical infrastructure.

Our adversaries are prepared to invest considerable time in planning and preparing for attacks. In some cases we have been able to observe that the attackers had been quietly present on customers’ systems for longer than 12 months before actually attempting to execute the frauds – often doing so around public holidays.
 
 

The determination, patience and cunning the attackers are demonstrating makes it more imperative than ever that customers rapidly deploy and maintain basic cyber hygiene tools and measures, comprehensively adhere to recommended security controls, and incorporate all the elements set out in the SWIFT Customer Security Programme.
 

The rise in the threat level clearly requires a concerted response. In response SWIFT and BAE Systems have produced a detailed report for SWIFT customers that outlines attack techniques and counter measures.