SWIFT (Society for Worldwide Interbank Financial Telecommunication) is supposed to be a secure financial network that banks can use for payment authorizations. It seems that of the 11,000 reported banks that use the system not all were up to snuff on security. The organization sent a letter to clients but, did not post anything on their website security announcement page as of Friday September 2nd. While SWIFT has been pushing companies to adopt more stringent security practices I have to wonder, why wasnt there a more rigorous you need to be this tall to ride program in place?”]
Source: https://www.csoonline.com/article/3116034/swift-kick-in-the-banking.html