The Traderszone Network

Published in TZ Latest News 25 June, 2016 by The TZ Newswire Staff

Global Institutions May Be Susceptible To Hackers, SWIFT Remains Vulnerable

The world of central banking relies on transferring vast amounts of information along controlled and secure messaging lines, around 2 million per day between roughly 7,000 institutions. The system of connections to and from central banks in Asia, Russia, China, Africa, and the Americas is known as SWIFT (The Society for Worldwide Interbank Financial Telecommunication). SWIFT provides a means for sending messages between the parties that have access to it. Each party is responsible for providing security measures before accessing the SWIFT network.

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