Cyberthieves exploit banks' faith in SWIFT transfer network

May 22, 2016

Cyberthieves exploit banks' faith in SWIFT transfer network

On Jan. 12, 2015, a message from a secure computer terminal at Banco del Austro (BDA) in Ecuador instructed San Francisco-based Wells Fargo to transfer money to bank accounts in Hong Kong. Wells Fargo complied. Over 10 days, Wells approved at least 12 transfers ...

May 17, 2016

Mitsubishi UFJ projects 11% lower profit amid negative rates

Mitsubishi UFJ Financial Group Inc. sees full-year profits falling 11 percent as negative interest rates squeeze loan profitability and the costs of bad loans increase. The country’s largest bank is targeting net income of ¥850 billion in the year ending March 2017, it said ...

Japan's financial regulator to scrutinize banks' stress tests

May 10, 2016

Japan's financial regulator to scrutinize banks' stress tests

The nation’s financial regulator is stepping up oversight of its biggest banks while stopping well short of imposing the type of intrusive stress tests that have been adopted in the U.S. and Europe. Unlike the Federal Reserve and the Bank of England, which conduct ...

BOJ considered negative side of minus rates: minutes

May 9, 2016

BOJ considered negative side of minus rates: minutes

Some Bank of Japan policymakers warned in March of “adverse effects” of negative rates, citing anxiety among financial institutions and depositors, meeting minutes showed Monday. After the minus rate policy was adopted in late January, these members said it had become difficult for market ...

Bangladesh Bank heist used compromised SWIFT software

Apr 25, 2016

Bangladesh Bank heist used compromised SWIFT software

The attackers who stole $81 million from the Bangladesh central bank probably hacked into software from the SWIFT financial platform that is at the heart of the global financial system, said security researchers at British defense contractor BAE Systems. SWIFT, a cooperative owned by ...