The Bank of England has ordered all the banks in the nation to take detailed steps and ensure their computer networks are connected to SWIFT bank messaging network. The move came after a still unknown group use a system to steal as much as $81 million from Bangladesh Bank.
The concerned central bank has sent request to all the banks to upgrade their cyber security measures in hope to protect systems from vulnerability.
The Bank of England has also requested banks to conduct a thorough compliance check to see if they are following the required security practices as recommended by SWIFT.
Read more details http://www.insurancejournal.com/news/international/2016/05/19/409204.htm
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