SWIFT has launched a campaign to increase security awareness among its customers by highlighting existing security features in its interface products. The campaign aims to help customers use the existing features to improve the security of their SWIFT access.

Customers must secure their environments

Existing security features on the SWIFT messaging network include the Relationship Management Application (RMA) and 2-Factor Authentication (2FA).

Referring to the organisation's recently launched Customer Security Programme, SWIFT's Stephen Gilderdale said: “We are focussed not only on encouraging customers to secure their environments – which is the most important defence against cyber-attacks, but also on further enhancing security features in SWIFT products and on promoting community adoption of our existing tools and controls. Through this awareness campaign we aim to make sure our users make the most of SWIFT’s existing security tools and controls.”

Bangladesh Bank won't sue SWIFT

This move follows the high-profile $81 million cyber theft from Bangladesh Bank, in which criminals targeted SWIFT's messaging network to issue false transfer orders to move funds out of Bangladesh Bank's account at the Federal Reserve Bank of New York. Bangladesh Bank said on Tuesday that it no longer plans to take legal action against the Fed and SWIFT, although it did not give a reason why, according to Reuters. Instead it plans to seek the help of the two entities in recovering the amount stolen in the hack.