Swift threatens to report users who fail to update software
Cyber threat is 'persistent, adaptive and sophisticated – and it is here to stay', Swift says
Global financial messaging service Swift has threatened to report users to regulatory authorities, or their counterparties, if they fail to comply with its latest round of cyber crime-fighting software updates.
In a letter to its customers dated August 30 - a letter seen by Central Banking - Swift revealed new cyber attacks had occured and pushed its users to comply with security procedures developed in the wake of the $81 million hacking scandal at Bangladesh Bank.
"Customers' environments
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