Brad Bussie, Director of Product Management, STEALTHbits Technologies - re Swift Interbank System - second attack warning:
"This unfortunate event is another example of a process that hasn’t caught up with the sophistication of attackers. When you examine the method used to transfer the funds, you will find a human element that is still present. Initiation of transfers is still based on trust. The bank is trusting that the user/batch is who they say they are. The problem is that we seem to be missing a key mitigation strategy here; Multi-factor authentication. The attack could have been thwarted with a simple process of authentication using something you have, something you know, and something you are. We need our financial institutions to ramp up security and add additional layers of authentication in several dated processes like funds transfer. Until we embrace digital fingerprints, you will never know if you can really trust the entity on the other end."