The company said it develops customer alerts displaying a snapshot of a day’s activity and any unusual messaging patterns detected by Swift. The alerts will be sent through a channel that is separate from the customer’s payments and compliance channels to help ensure reliability even if hackers have gained control of a bank’s operations or disabled certain functions to cover their tracks.
Each alert will contain two features: a statement of the day’s transaction messaging activity and a risk report of any orders of unusual size, new or unusual payees, combinations of payment parties, or other anomalies, put together by Swift from its own logs of a customer’s message history.
The Swift spokeswoman said recipient banks wouldn’t receive copies of the customer alerts with which to verify potentially fraudulent incoming traffic, and it would be up to customers to review their alerts and call attention to any problems.
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