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The recent fallout of an attempted interbank heist of nearly $1.0 billion from the central bank of Bangladesh, has received a tidal wave of interest from US regulators and global payments groups, given the vulnerabilities underscored by SWIFT’s payment network.
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The genesis of the concerns stemmed from the theft of $81.0 million from the Bangladeshi central bank, which prompted a multinational investigation. Since then, officials have warned that vulnerabilities in SWIFT’s payment network, as well as errors from group ... (read more)