SWIFT warns banks against cyber attacks

Baku. 13 December. REPORT.AZ/ SWIFT (Society for Worldwide Interbank Financial Telecommunications) international payment institution warned on threats of cyberattacks on banks.

Report informs, the information says hackers developed new methods to break local banking systems. One of the methods is application of special software enabling remote access to computer servers.

Notably, SWIFT is high security system which ensure financial relations in global financial market, especially among banks. The system manages daily 7 million transactions among financial institutions. 11,000 members, including 9,000 banks in 209 countries have been registered in the system.

Most of Azerbaijani banks are also connected to SWIFT system. Financial institutions have to pay 400 thousand Belgium francs (11 200 USD) to connect to the system.