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RETAIL BANKING | Staff Reporter, Singapore
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Weekly Global News Wrap Up: SWIFT warns banks against rising threat of digital heists; UK banks can endure 'disorderly' Brexit

And find out what central banks think of bitcoin.

From Reuters: SWIFT, the global messaging system used to move trillions of dollars each day, warned banks on Wednesday that the threat of digital heists is on the rise as hackers use increasingly sophisticated tools and techniques to launch new attacks. Brussels-based SWIFT has been urging banks to bolster security of computers used to transfer money since Bangladesh Bank lost $81 million in a February 2016 cyber heist that targeted central bank computers used to move funds. The new warning provided detail on some new techniques being used by the hackers.

From Bloomberg: The Bank of England said the U.K.’s biggest lenders emerged from its latest stress test with the strength to keep lending even during a “disorderly” Brexit. Five of the seven banks passed the health check, while two -- Barclays Plc and Royal Bank of Scotland Group Plc -- fell below their systemic reference point, a higher threshold that reflects their global significance. Yet actions taken by the banks since end-2016 mean neither needs to bolster their capital, the BOE said on Tuesday.

From Bloomberg: Eight years since the birth of bitcoin, central banks around the world are increasingly recognizing the potential upsides and downsides of digital currencies. The guardians of the global economy have two sets of issues to address. First is what to do, if anything, about emergence and growth of the private cryptocurrencies that are grabbing more and more attention -- with bitcoin now surging toward $10,000. The second question is whether to issue official versions.

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