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Central bank group calls for tighter security around SWIFT

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Central bank group calls for tighter security around SWIFT

A group of 10 central banks led by the National Bank of Belgium has asked bank regulators totighten security around the usage of the SWIFT messaging system.

SWIFT, which is used to send instructions for bank transfers, has comeunder the spotlight following an $81 million hack of Bangladesh Bank's account at the U.S. FederalReserve.

The central bank group, known as the SWIFT Oversight Forum, stressed thatfinancial institutions are ultimately responsible for their own IT environmentand infrastructure.