Achieving SWIFT CSP Attestation Cost Effectively

What are the SWIFT Customer Security Controls Standards?

If you are a financial institution, you are most likely aware of SWIFT (Society for Worldwide Interbank Financial Telecommunications) Customer Security Controls Framework (CSCF). SWIFT’s services are used and trusted by over 11,000 financial institutions across over 200 countries. The CSC standards were established to foster awareness and good practices around security for the entire SWIFT community.

The current SWIFT Customer Security Control Framework (CSCF) comprises 32 controls, of which 23 are mandatory and 9 are advisory. The mandatory security controls establish a security baseline for the entire community. They must be implemented by all users on their local SWIFT infrastructure.

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What are the SWIFT Customer Security Controls Standards?

The advisory controls are based on recommended practice that SWIFT recommends all users to implement. Over time, controls have changed due to the evolving threat landscape, the introduction of new technologies, the evolution of security-related regulations in major jurisdictions, and developments in cybersecurity practices.

All controls are articulated around three overarching objectives:

Secure your Environment

Know and Limit Access

Detect and Respond

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Customer Needs

As part of the Customer Security Program (CSP), all SWIFT users must submit an Independent Assessment (IAF) annually, showing compliance levels with the controls. All users have to attest before the expiration date of the version of the current control, confirming full compliance with the mandatory security controls no later than the end of each calendar year, and must re-attest at least annually thereafter.

Re-attestation has to be done between July and December each year. New joiners to SWIFT need to attest before going live on the SWIFT network. A detailed description of the security attestation process and requirements is available in the SWIFT Customer Security Controls Policy.

Many organizations do not have the expertise, time, or resources to handle the annual security attestation requirements of SWIFT. Hitachi Systems Security can help you meet all 32 of the mandatory and advisory SWIFT CSCF requirements.

The Benefits of Hitachi Systems Security SWIFT Customer Security Program Attestation Solution

Hitachi Systems Security deep expertise of SWIFT and SWIFT security – including understanding of the SWIFT security control framework and detailed mandatory and advisory controls