SWIFT Announces New Security Plan To Combat High-Level Bank Heists

Reuters reported that SWIFT CEO Gottfried Leibbrandt confirmed the global interbank messaging system will introduce a new five-point plan this week. During a financial services conference in Brussels, Leibbrandt also noted that the Bangladesh Bank heist was a "watershed event for the banking industry."

"There will be a before and an after Bangladesh. The Bangladesh fraud is not an isolated incident ... This is a big deal. And it gets to the heart of banking," he continued.''