How Bangladesh Bank Hackers Targeted Swift's Software

Photo source: howtobecome.com

 Earlier on, in February investigations were made that discovered the theft of $81 million from the Bangladesh Central Bank. Swift is an acronym for the Society for Worldwide Interbank Financial  Telecommunication which provides network that enables financial institutions to send and receive information about financial transactions in a secure environment. According to them, it is used by about 11,000 banks and financial institutions.
 A report by Reuters stated that: BAE says it believes part of the hack involved gaining access to the Bangladesh Central Bank's Swift payment system.
 BAE said "This malware appears to be just part of a wider attack toolkit and would have been used to cover the attackers tracks as they sent forged payment instructions to make the transfers."
 With this kind of approach, Swift's Alliance Access software would be a target.
 Reacting to this; Swift said in a statement "This malware has no impact on Swift's network or core messaging services."
 We understand that the malware is designed to hide the traces of fraudulent payments from customers local database applications and can only be installed on users' local systems by exploited weakness in their local security."
 Swift has said, there has been an update to assist customers in enhancing their security and to spot out issues in their local database records.