FFIEC Provides Banks with Guidance Following the SWIFT Hacks

On June 7, 2016, the Federal Financial Institutions Examination Council reminded banks of the cyber risks associated with interbank messaging and wholesale payment networks. FFIEC made its announcement after hackers allegedly used the Society for Worldwide Interbank Financial Telecommunication messaging system to steal millions of dollars from banks around the world, including $81 million from the Bangladesh central bank.

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