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Articles

Time to Put Your Bank Connectivity on Lockdown

  • By Andrew Deichler
  • Published: 12/13/2016

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Maintaining the security of bank connections is vital for any treasury department. Treasurers move money every day, and if that movement is not secure, there’s no telling whose hands it could end up in. And with a string of recent hacking incidents targeting banks connected to the SWIFT network, securing bank connectivity has never been more important.

Putting Your Connectivity on Lockdown, AFP's new Treasury in Practice guide, underwritten by Kyriba, looks at how we got here, and defines several ways that treasury practitioners can ensure their connections are safe.

Much like the infamous Target breach, the recent $81 million theft from Bangladesh Bank has proven to be a watershed moment for cybersecurity. Although only banks have been targeted by these particular hackers, the incident nevertheless has implications for all kinds of businesses around the globe that have multiple bank connections.

If corporate treasurers want to ensure that they won’t wake up to the news that several million dollars has been mysteriously transferred overseas from their corporation’s accounts, then they need to make sure their connections are secure. And they need to do it now.

Download Putting Your Connectivity on Lockdown here.

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