The SWIFT network (Society for Worldwide Interbank Financial Telecommunication) has warned banks across the globe to comply with security procedures instituted after this year’s $81 million online bank heist at Bangladesh Bank, as hackers have become more sophisticated in their tactics, reports Reuters. According to the agency, cyber-theft attempts have increased since the attack on the Bangladesh central bank, resulting in fraudulent payment instructions compromising customer accounts. Some of these thefts have been successful, although it did not specify how much money was stolen or from which banks. The agency mentions that the thieves exploited weaknesses in local security that compromised local networks to send fraudulent message and request transfers. SWIFT further stated that “the threat (of cyber-theft) is persistent, adaptive and sophisticated - and it is here to stay". The agency’s warnings are not an overstatement - other than…
- Tesla CEO Elon Musk will buy Twitter for $44 billion after all October 6, 2022
- Jio and Airtel showcase their surveillance systems at the India Mobile Congress 2022 October 6, 2022
- Another ED Raid on China-Linked Keepsharer App for Part-Time Job ‘Scam’ October 6, 2022
- Mozilla Report Accuses Google, Apple, Microsoft of Anti-Competitive Practices, Flags Shrinking Web Browser Choices October 5, 2022
- Event Announcement: Draft Telecom Bill, 2022, Delhi, 18th Oct October 5, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...