Security breach threatens more than 11,000 financial institutions - CNET

According to Reuters, SWIFT waed its customers on Monday that the $81 million cyber theft from the Bangladesh central bank is not an isolated incident. SWIFT stands for the Society of Worldwide Interbank Financial Telecommunications and promises banks around the world a means of secure messaging. It's a cooperative owned by more than 3,000 financial institutions with more than 11,000 customers, and a possible breach is now threatening the security of all of them.

The notice seen by Reuters said that the attack could be "malicious insiders or exteal attackers" and they've managed to alter the software to hide monetary transfers and send messages that look as though they've come from the back office of SWIFT's customers.

SWIFT released a security update on Monday to hopefully eliminate the malware behind the breach.

SWIFT did not immediately respond to CNET's request for comment.