- In the nineteenth century telegraphic communications between banks were typically secured by the case of codebooks. Here's a link to an example from the Bank of Montreal.
- The Enigma machine was supposedly originally developed in 1918 by Arthur Scherbius for the protection of banking communications.
- In chapter 22 of his book "The Codebreakers" David Kahn says that Elizabeth Friedman was employed by the IMF to set up a cryptographic system based around the one-time pad. He also notes that as late as 1958 banks were using codebooks rather than machine encipherment (describing one episode of insider threat enabled this).
Daniel S
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