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Europe Data Protection Digest | Bank of England requires banks to tighten security after SWIFT hack Related reading: EDPB opinion on legality of pay-or-consent models in EU GDPR context

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Two months after hackers used bank messenger tool SWIFT to steal $81 million from Bank Bangladesh, the Bank of England has mandated all banks within the U.K. specify their SWIFT security protocols, Reuters reports. The move is “the earliest known case of a central bank in a major economy to order its member banks to conduct a formal security review in response to the Bangladesh theft, which has shaken the global system for transferring money among both commercial and central banks,” the report states. SWIFT declined to comment.
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