A former CSO of the World Bank Treasury calls the SWIFT system outdated and open to malware attacks. Those vulnerabilities could lead to manipulation of financial transactions. The Society for Worldwide Interbank Financial Telecommunications maintains this system. The board of directors needs to arrive at the consensus that they must make changes to the messaging system and its security, says Tom Kellermann. Attackers first use spear phishing or island hopping approaches to gain access to the system’s public-key infrastructure to steal the PKI keys.”]
Source: https://www.csoonline.com/article/3141296/swift-has-not-seen-its-last-bank-robbery.html