Well, it appears that the fortress is no more. Latest reports suggest that NSA (a state actor in cybersecurity world) has successfully breached Swift firewalls. Details are here:
From financial services and economy perspective, this is huge. Take a macro view: for years we have been told that cash and physical gold and silver are not safe. And for years this argument has been juxtaposed by the alleged ‘safety’ of digital money (not the Bitcoin and other cryptos, which the Governments loath and are keen on declaring ‘unsafe’, but state-run Central-Banks-operated digital money). The very notion of e-finance or digital finance rests on the basic tenet of infallibility of Swift. That infallibility is now gone. Welcome to the brave new world where the Governments promise you safe digital money in exchange for privacy and liquidity, while delivering a holes-ridden dingy of a system that can and will be fully compromised by the various states’ actors and private hackers.
Come here, doggie, doggie! Have a treat…
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