The Society for Worldwide Interbank Financial Telecommunication is a nonprofit cooperative owned by 3,000 banks. It bills itself as “the world’s leading provider of secure financial messaging services” CEO Gottfried Leibbrandt initially said he wouldn’t impose data security standards on any of its 11,000 members. But he appears to have changed tack, saying on June 1 that his organization is now weighing suspending banks found to have poor security practices. He adds that SWIFT also is considering creating a program that will certify auditors to review banks’ cybersecurity practices.”]
Source: https://www.govinfosecurity.com/blogs/banks-bad-cybersecurity-could-face-swift-justice-p-2145