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LogRhythm for SWIFT

White Paper by

Society for Worldwide Interbank Financial Telecommunication (SWIFT) facilitates a huge number of financial transactions every day via the secure messaging system it provides to its members. In addition to banks, the system is also used by other major financial players. SWIFT does not maintain accounts or handle funds, but its network moves huge sums every day. Member institutions, if compromised, can be used to send fake messages that other members act upon in good faith. Such activity has resulted in both attempted and successful transfers of funds by cybercriminals.