After security disasters, banks using SWIFT messaging platform face new regulations in 2018

In 2018, all banks using the SWIFT messaging platform will be required to comply with a new cybersecurity framework that aims to establish a baseline for security.

SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. Banks use the closed network to communicate among themselves, sending approximately 25 million messages per day.

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Source: TechRepublic