By Jason Murdock
April 25, 2016 14:06 BST
Updated 6 hr ago
SWIFT warning issued after hackers breached Bangladesh Bank's online systems and stole credentials for payment transfersistock, Getty Images
Over ten thousand banks and financial institutions are being urged to remain vigilant after the secure Swift (Society for Worldwide Interbank Financial Telecommunication) system – used to send messages between global firms – was reportedly compromised by the sophisticated hacking scheme that targeted the Bangladesh central bank in March 2016.
The news comes after security researchers at British defence contractor BAE Systems claimed to have uncovered a stealthy piece of malware used in the Bangladesh attack, which resulted in the loss of $81m (£56m, €71m). Previously, investigators said that cybercriminals broke into the bank's computer networks to steal vital access credentials. However, fresh research claims that Swift was also likely compromised during the hack in order to erase records of malicious financial transfers.