24 September 2018

Customer Security Programme - attestation deadline approaching

All SWIFT users must comply with the mandatory security controls by the end of 2018

The financial sector is one of the most advanced economic sectors when it comes to the use of IT and, logically has invested hugely in IT security systems. But it is also one of the most interconnected worlds – and a clear target for cyber criminals. The threat is not only here to stay, it is also highly adaptive as criminals find increasingly creative ways to perpetrate their attacks.

The World Economic Forum (WEF) cited cyberattacks as a top global risk  and its analysis shows that, across the globe, the good guys are not winning the fight by any stretch of the imagination – cyberattacks were in the WEF’s top ten risks in 2016 and in the top five in 2017; in 2018 they feature in the top three risks to the global economy. It is more important than ever that you continue to secure and protect your SWIFT-related environment, prevent and detect fraud in your commercial relationships, and share and use fraud-related information to defend against future cyber threats. 

SWIFT’s Customer Security Programme (CSP) is designed to assist customers in protecting and securing their local environments; in preventing and detecting fraud in their commercial relationships; and in sharing and utilising fraud-related information to defend against future cyber threats. One aspect of the CSP is a set of controls aimed at enhancing customers’ security baselines. By the end of 2018 at the latest, all SWIFT users need to confirm full compliance with the mandatory security controls.  

This self-attestation data is critical for the community as it will help SWIFT users determine if they are comfortable doing business with different counterparties from a cyber risk management perspective, and to identify any additional measures they may want to put in place to enhance the security of those business relationships.

If you have not done so yet, please follow the necessary steps and submit your self-attestation before the end-of-year deadline. 

Where to get help

You can find detailed information on the attestation process on the SWIFT’s Customer Security Programme (CSP) webpages – there you can also log into the KYC-SA and complete your submission. 

 

There is also a wealth of information accessible via mySWIFT, such as CSP materials in the User Handbook, the SWIFTSmart training portfolio, Knowledge Based Tips, videos, webinar recordings, and FAQs.

 

 

Where to get help

You can find detailed information on the attestation process on the SWIFT’s Customer Security Programme (CSP) webpages – there you can also log into the KYC-SA and complete your submission. 

 

There is also a wealth of information accessible via mySWIFT, such as CSP materials in the User Handbook, the SWIFTSmart training portfolio, Knowledge Based Tips, videos, webinar recordings, and FAQs.

 

 


 

Notes:

, published by the World Economic Forum on 17 January 2018.

CSP

Customer Security Programme (CSP)

Reinforcing the security of the global banking system.

CSP

Customer Security Programme Framework v2019

SWIFT has published the new Customer Security Controls Framework (CSCF) v2019, which provides additional guidance and clarification on the implementation guidelines and includes changes to the existing controls - these include promoting three to mandatory and two new advisory controls.

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