Safeguarding security across the banking community
The growing threat of cyberattacks has never been more pressing. Recent instances of payment fraud in our customers’ local environments demonstrate the necessity for industry-wide collaboration to fight against these threats.
While SWIFT’s network, software and services have not been compromised, each of these incidents took place after a customer suffered security breaches within its locally managed infrastructure.
SWIFT customers are individually responsible for the security of their own environments, however, the security of the industry as a whole is a shared responsibility. As an industry cooperative, SWIFT is committed to playing an important role in reinforcing and safeguarding the security of the wider ecosystem. We have therefore launched the Customer Security Programme (CSP), which aims to improve information sharing throughout the community, enhance SWIFT-related tools for customers and provide a customer security control framework. Through the programme, we will also share best practices for fraud detection and enhance support by third party providers.
We are supporting greater levels of information sharing across the global community. This means a greater exchange of cyber threat information between customers and SWIFT, and we’ll be keeping you informed of any preventive and detective measures that will help safeguard the community.
Enhancing SWIFT-related tools
We are strengthening the security requirements for customer-managed software. We will also continue our efforts to harden our own products with further tools and monitoring capabilities.
Customer Security Controls Framework
SWIFT has introduced its Customer Security Controls Framework to drive security improvement and transparency across the global financial community.