Swift rolls out new cyber defences for central banks

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Swift’s new tool uses machine learning to understand patterns of activity

Global payments messaging firm Swift is rolling out new tools for central banks and other financial institutions looking to defend themselves against cyber threats.

The company said its “payment controls service” was a major milestone in its cyber security push, which launched in the aftermath of the Bangladesh Bank heist in February 2016. Although the breach was at the central bank, Swift has been working to help users toughen their defences.

Swift’s Tony Wick, head of anti-money laundering

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Combatting the ever-changing cyber threats in banking

Seemanta Patnaik, co-founder and chief technology officer at SecurEyes, discusses the continually evolving challenges and threats, and possible solutions to remain resilient to cyber attacks in today’s central banking environment.

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