Bank cyber heists are here to stay, says SWIFT security chief

Bank cyber heists are here to stay, says SWIFT security chief: Hundreds of millions of dollars have already been stolen, and there's every chance that we haven't seen the last of it.

Money makes the world go around, and SWIFT – the worldwide inter-bank communication network – is the system that allows banks to send money to each other.

So when online criminals find a way to exploit SWIFT, they can transfer huge amounts of money to bank accounts under their control.[...]