24 October 2016

SWIFT’s Customer Security Programme delivering results

Speaking at an industry event, SWIFT’s Chief Information Security Officer, Alain Desausoi, emphasised that SWIFT’s Customer Security Programme is already preventing cyber-attacks

Alain DesausoiIn a panel session on cyber-resilience at the BBA Annual International Banking Conference in London, Alain Desausoi, SWIFT’s Chief Information Security Officer (CISO), explained how SWIFT's Customer Security Programme (CSP) is already helping prevent cyber frauds by working with affected customers and their counterparties to identify, stop and retrieve fraudulent messages.

Desausoi stressed that financial institutions must take all steps to secure their local environment, whilst underling the need for industry cooperation, “The growing threat of cyberattacks has never been more pressing, SWIFT customers are responsible for the security of their own environments; but the security of the industry as a whole is a shared responsibility requiring full collaboration within financial services.”

The growing threat of cyberattacks has never been more pressing, SWIFT customers are responsible for the security of their own environments; but the security of the industry as a whole is a shared responsibility requiring full collaboration within financial services.

Alain Desausoi, Chief Information Security Officer (CISO), SWIFT

As an example of industry cooperation, Desausoi pointed to the immediate need for information sharing to meet the cyber challenge, “Having accurate, up to date information on relevant cyber threats is critical, and we are supporting greater levels of intelligence sharing across the global community and  SWIFT’s CSP will drive greater exchange of cyber threat information between banks and SWIFT.”

Speaking alongside experts from Templar Executives, City of London Police and the National Cyber Crime Unit, Desausoi also explained how deploying red teams to test and assess your systems is crucial to identifying vulnerabilities and improving security within organisations.

Extended reading

Topic

Customer Security Programme (CSP)

Reinforcing the security of the global banking system

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